Markets regulator Sebi sees strong potential for India’s equity investor base to double over the next three to five years, driven by rising interest in financial markets and regulatory efforts to reduce onboarding friction.

Sebi chairman Tuhin Kanta Pandey, speaking at a CII event in Mumbai on Monday, cited a recent survey conducted by the regulator in which a fifth of respondents said they intended to invest in the securities market.

“We are looking at double the number of investors,” Pandey said when asked what would make him happy over the next three to five years. As of September 2025, the number of demat accounts stood at 20.7 crore, with the numbers rising fast since the Covid pandemic.

A key part of Sebi’s strategy is simplifying and digitising processes for non-resident investors. Pandey said the regulator is focused on enabling NRIs to complete KYC and open demat accounts from abroad without needing to be physically present in India. A draft circular issued last month proposes easing the existing requirement that NRIs be in India for digital onboarding or V-CIP.

He added that Sebi is also working to streamline and speed up the registration process for foreign portfolio investors as part of wider market reforms. The regulator is simultaneously undertaking an overhaul of its rule book to remove outdated provisions and improve clarity.