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Monetary Management and Financial Intermediation 141

Figure 5B: Composition of the MSCI EM Index: How has India’s weight changed over time

South
Africa Others
6.26% 16.90%
India
9.32% South Africa China ex A
China 3.50% 37.40%
Brazil
MSCI EM Index 30.94% 4.80% MSCI EM Index
May 31, 2018 August 31, 2020
Taiwan India
12.25% 8.30%

Taiwan China A
South 11.50% South 5.10%
Korea Korea
14.76% 12.50%

Others Others
16.87% China ex
South 19.07% A
Africa China ex A South Africa 26.94%
3.47% 34.27% 3.17%
Brazil MSCI EM Index MSCI EM Index
Brazil
5.10% Dec 31, 2020 3.99%
India Dec 31, 2021 China A
9.25% India 5.47%
China A 12.45%
South 4.82% Taiwan
Korea Taiwan South 16.09%
Korea
13.46% 12.75% 12.81%

Source: RIMES, MSCI, Morgan Stanley Research

Trends in Retail participation in the Capital Market

4.40 With continuing buoyant trend in Indian stock markets, participation by individual
investors in equity cash segment has increased and the share of individual investors in total
7
turnover at NSE increased from 38.8 per cent in 2019-20 to 44.7 per cent in April-October 2021
(Table 11). The substantial increase in share of individual investors in 2020-21 and 2021-22 can
partly be ascribed to the increase in new investor registrations witnessed since February 2020.
In April-November 2021, nearly 221 lakh individual Demat accounts were added.
Table 11: Share of Individual Investors in equity cash segment turnover (NSE)
(in per cent)
Year Share of individual Investors
2016-17 36.0
2017-18 39.0
2018-19 39.0
2019-20 38.8
2020-21 45.0
April-October 2021 44.7
Source: SEBI
7 Individual investors includes individual domestic investors,NRIs, sole proprietorship firms and HUFs, Others: Partnership Firms/LLP, Trust /
Society, Depository Receipts, Statutory Bodies, OCB, FNs, etc.