Financial services market size in India | Size & Industry Trends 2025

Code: MTA4984 Publication Date: Jul 2025

What is the India Financial services market size and growth rate?

According to 6Wresearch internal database and industry insights, the India financial services market is anticipated grow at a CAGR of 11.5% during the forecast period.

This unprecedented growth is driven by the expansion of digital banking, wider adoption of fintech services, regulatory reforms favoring open banking, and an increase in financial inclusion initiatives across emerging urban centres. 

Growth Factors of the India Financial Services Market

  • Growth of real-time digital payment infrastructure in urban and rural areas.
  • Favorable government-backed initiatives like PM SVANidhi, Jan Dhan Yojana, and Digital India
  • Augmented adoption of mobile-first financial services.
  • The number of young, tech-savvy consumers demanding personalized digital finance tools has been increased.
  • Amalgamation of AI, ML, and blockchain in insurance, lending, and investment platforms.
  • Rising number of strategic partnerships between traditional banks.

India Financial Services Market Trends

There are numerous trends shaping the India financial services industry, with a notable shift toward platform-based models offering embedded finance, API banking, and robo-advisory. The proliferation of account aggregators and open banking frameworks is empowering consumers with better financial data access. Cloud-native infrastructure and cybersecurity enhancements are also driving innovation and trust in the system, setting a robust foundation for sustainable growth.

Emerging Developments in the India Financial Services Market

India Financial Services Market is being redefined by the adoption of modular, cloud-native architectures and increasing popularity of "Banking as a Service" (BaaS). New entrants are launching microfinance and investment solutions tailored to underbanked regions. Wealth-tech and insurtech platforms are leveraging AI for better risk profiling and customer engagement. Hyper-personalization, predictive analytics, and biometric-based KYC processes are reshaping user experience and compliance simultaneously.

Major Companies in the India Financial Services Industry

  • ICICI Bank
  • Zerodha
  • Razorpay
  • HDFC Bank
  • Policybazaar
  • Paytm Payments Bank
Financial services market size in India : FAQs
India financial services market is set to register a significant CAGR of 11.5% in the coming years.
Fintech has become a major growth driver by offering cheaper and more inclusive financial products, disrupting traditional models.
Artificial intelligence, blockchain, and cloud computing are transforming everything from KYC to lending operations.
Increased mobile and internet penetration, combined with digital literacy programs, are enabling strong rural adoption of financial services.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
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