Summary of this article
Women remain an untapped segment to lead to economic growth
More women should be enabled to shift to investing and wealth creation
India’s women represent one of the country’s largest untapped economic opportunities, yet their participation in wealth creation remains limited despite improvements in financial inclusion, according to a report by EY and Lxme.
The report titled “Unlocking Her Wealth: The Untapped Economy” said that while access to banking and digital financial services among women has expanded significantly in recent years, meaningful participation in investment and long-term wealth creation remains far lower than that of men. The report said that empowering women financially could have far-reaching economic benefits for India. By enabling women to shift to investing and creating wealth rather than just saving, the country could unlock a powerful engine for economic growth while strengthening household financial resilience.
The report said that government initiatives aimed at financial inclusion have helped bring millions of women into the formal banking system. However, financial inclusion initiatives alone have not automatically translated into active investing or asset ownership. Many women continue to remain passive savers, often relying on traditional savings instruments rather than market-linked investments such as equities, mutual funds or retirement-oriented financial products.
The report said that social and structural barriers continue to shape women’s financial journeys. Career breaks, caregiving responsibilities and societal expectations frequently affect income continuity, which in turn limits women’s confidence in managing investments. In many households, financial decision-making still tends to be dominated by male family members, leaving women less involved in planning or managing long-term wealth.
The study noted the need to bridge this participation gap, which could significantly expand India’s investor base and strengthen the country’s financial ecosystem. Women investors were often found to demonstrate disciplined and long-term investment behaviour, which can contribute to more stable and sustainable financial markets.
Another challenge noted by the report was the lack of financial products and advisory services designed specifically with women investors in mind. Historically, the financial services industry has largely catered to a generic or male-dominated investor profile. This has resulted in communication gaps, product design limitations and insufficient financial education tailored to women’s needs and life goals.
The report called for a shift from financial inclusion to financial ownership. This means ensuring that women are not just bank account holders but active participants in wealth creation, with the confidence and knowledge to make independent financial decisions.
Financial institutions need to develop gender-responsive investment solutions, expand financial literacy initiatives and leverage digital platforms to reach women investors more effectively, according to the report. Building communities where women can openly discuss money, investing and financial planning could also play a crucial role in improving confidence and participation.
It was also noted that women should be encouraged to begin investing earlier in their careers. Early exposure to financial planning and investing can help women benefit from long-term compounding and build stronger financial security over time.
Employers, educational institutions, fintech platforms and policymakers all have a role to play in fostering this shift, the report said. Financial education in the workplace, targeted advisory services, and simplified digital investment platforms could help bridge the gap between access and active participation.
