India ETF AUM Crosses ₹10 Lakh Crore
Analysis based on 6 articles · First reported Dec 22, 2025 · Last updated Dec 27, 2025
The significant growth in India's ETF AUM and trading volumes indicates a maturing market with increased retail participation and diversification. This positive trend suggests a robust and liquid market for ETFs, potentially attracting more domestic and international investment into India's financial sector.
India's Exchange Traded Fund (ETF) industry has achieved a major milestone, with Assets Under Management (AUM) exceeding ₹10 lakh crore as of October 2025, according to Zerodha Fund House. This figure represents a doubling of AUM in just three years. ETF trading volumes have also surged dramatically, increasing over seven-fold from ₹51,000 crore in FY20 to ₹3.83 lakh crore in FY25, with the first half of FY26 nearly matching the previous year's total. Retail investor participation has been a key driver, with ETF folios rising more than eight times from 41 lakh in November 2020 to over 3 crore by November 2025. While equity ETFs remain dominant, there's a growing trend towards diversification, with Gold and Silver ETFs now constituting nearly 15% of total ETF AUM. Gold ETF AUM doubled to over ₹1 lakh crore, and Silver ETF AUM quadrupled to over ₹49,000 crore. Vishal Jain, CEO of Zerodha Fund House, highlighted this as a landmark moment for the Indian ETF space.
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