BHUBANESWAR: At a time when India’s retail investment boom is reshaping the country’s financial landscape, Odisha is emerging as one of the fastest growing investor bases in eastern India, said chairman of Securities and Exchange Board of India (SEBI) Tuhin Kanta Pandey here on Monday.
Addressing a media-conference after an investor awareness programme, organised by the Association of Mutual Funds in India, Pandey said the number of securities market investors from Odisha has surged more than 10-fold over the last decade, even as the state continues to remain under-represented in the mutual fund ecosystem.
The SEBI chief, a former IAS officer of Odisha cadre, said the state’s investors count has risen from 2.5 lakh in 2014-15 to nearly 28 lakh in 2025-26, reflecting growing financial awareness and participation among households across the state. Odisha now has 15 lakh mutual fund investors holding around 59 lakh folios with assets worth approximately Rs 71,000 crore at the end of 2025-26.
“Despite the rapid rise, Odisha accounts for only one per cent of the country’s nearly Rs 82 lakh crore mutual fund assets under management. This indicates that there is substantial room for expansion and inclusion,” Pandey said.
“This also tells us something important. Awareness is rising. Aspirations are rising. Confidence is rising, And yet, the journey has just begun,” he added.
On the broader transformation in Indian market, the SEBI chief said that the market capitalisation has grown from around Rs 95 lakh crore in 2015-16 to Rs 463 lakh crore by April 2026, while the corporate bond market has expanded nearly three-fold to Rs 59 lakh crore during the same period. Retail participation too has widened dramatically, with India now having nearly 145 million unique investors compared with just 38 million in 2018-19. Monthly SIP flows, which stood at Rs 3,000 crore in April 2016, have crossed Rs 31,000 crore in April 2026.
Pandey also highlighted the untapped potential of municipal bonds for infrastructure financing in Odisha. Globally, municipal bonds are widely used by city administrations to fund projects such as water supply, sanitation and transport infrastructure. In India, 22 urban local bodies have collectively raised over Rs 4,500 crore through 31 municipal bond issuances till 2025-26.
“With wider participation, municipal bonds can evolve into a key pillar of funding for urban infrastructure in Odisha as well,” he said.
Citing findings from SEBI’s Investor Survey 2025, Pandey said while 63 per cent of Indian households are aware of securities market products, only 9.5 per cent actually invest, with rural participation languishing at just six per cent.
He urged first-time investors in Odisha to begin early through systematic investment plans (SIPs), stressing that disciplined long-term investing and the power of compounding could play a key role in financial empowerment for households across the state.
