India’s equity market capitalization has more than doubled over the past five years to reach $5.3 trillion, making it the fourth-largest equity market globally. The expansion reflects rising retail participation, increased foreign inflows, and strong corporate earnings. Analysts note that market depth and liquidity have improved significantly, supporting more efficient price discovery. Policymakers see the growth as an outcome of favorable economic policies and investment reforms, reinforcing India’s position as an attractive destination for global and domestic investors seeking long-term exposure to equities.