India's economic fabric is undergoing a significant transformation as women increasingly become key contributors to wealth creation. This evolution is more than just a passing trend—it's a fundamental reshaping of the financial landscape, creating new avenues for wealth advisory firms such as Client Associates.
Recent statistics reflect this shift clearly. By January 2025, women accounted for over 40% of UDYAM-registered MSMEs, underlining their growing entrepreneurial drive.
A recent survey of over 3,000 female entrepreneurs revealed key insights:
Several interconnected factors are fueling this rise. The Self-Empowerment Hypothesis, initially formulated in Western academic circles, posits that when women gain access to education, financial independence, and information, their entrepreneurial capabilities naturally expand.
In India, this theory holds true as female labour participation surged from 23.3% in 2017-18 to 41.7% in 2023-24. Moreover, the growing visibility of successful women entrepreneurs in the media has created strong role models, inspiring others to follow suit.
Women also exhibit a disciplined and strategic approach to investing, often surpassing their male counterparts in patience and financial planning.
Of particular note is the emergence of women among India's High Net Worth Individuals (HNWIs). Knight Frank's Wealth Report 2025 reports that the number of Indian HNWIs—defined as individuals with over USD 10 million in assets—increased by 6% in 2024 to 85,698 and is expected to reach 93,735 by 2025.
Women are not just participating in this wealth wave; they are leading it. As of January 2025, Forbes Real-Time Billionaires listed several Indian women among the country's richest, heading businesses across sectors such as:
Their influence extends beyond ownership, encompassing active financial engagement. A survey of affluent Indian women investors found that 95% are interested in diversified portfolios.
Most preferred asset classes include:
Notably, alternative investments are as popular as fixed income instruments, both at 35%, indicating a sophisticated approach to managing wealth.
Despite notable advancements, women still make up a smaller share of HNWIs compared to men. Social and institutional barriers continue to affect women's financial autonomy and progression.
To effectively serve this rising demographic, the wealth management industry must proactively address these barriers and tailor strategies to women's unique needs.
Looking forward, the outlook is bright. India's Ultra High Net Worth (UHNW) population is projected to grow from 13,263 in 2023 to 19,908 by 2028, with an estimated CAGR of 10%.
This growth is driven by:
This evolution presents significant opportunities for firms like Client Associates. Women investors often exhibit distinct financial goals and risk appetites, along with a strong interest in learning and engaging in diversified investment opportunities.
The increasing presence of women in India's wealth narrative signals more than financial gain—it marks a transformative shift in the country's economic power dynamics. As more women take charge of their financial futures, they are not only enhancing personal prosperity but also playing a pivotal role in India's economic ascent.
This trend is poised to continue, positioning women as a formidable force in the realm of wealth creation and financial stewardship.
Let's discuss how we can help you achieve your financial goals.