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Indian ETFs Hit Record Rs 1.8 Lakh Crore Inflows in FY26

Indian Exchange Traded Funds recorded record net inflows of over Rs 1.8 lakh crore in FY26, more than doubling the previous peak. Commodity ETFs led by gold and silver contributed 55% of total inflows, attracting Rs 99,280 crore. Gold ETFs saw inflows exceeding Rs 68,000 crore, surpassing the combined inflows of the previous five financial years. The report also noted improved liquidity with average daily ETF turnover rising to over Rs 4,200 crore.

Key Points: Indian ETFs Record Rs 1.8 Lakh Crore Inflows in FY26

  • Record Rs 1.8 lakh crore net inflows in FY26
  • Commodity ETFs (gold & silver) contributed 55% of total inflows
  • Gold ETFs attracted Rs 68,000 crore, surpassing 5-year combined inflows
  • Average daily ETF turnover surged from Rs 237 crore to Rs 4,200 crore
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ETF inflows hit record Rs 1.8 lakh crore in FY26, driven by surge in gold, silver investments: Report

Indian ETFs hit record Rs 1.8 lakh crore net inflows in FY26, driven by gold and silver investments, more than doubling previous peak of Rs 83,390 crore.

"Gold and silver ETFs together attracted Rs 99,280 crore, contributing around 55 per cent of the total inflows - Zerodha Fund House Report"

New Delhi, April 30

Indian Exchange Traded Funds recorded their highest-ever annual net inflows of over Rs 1.8 lakh crore in FY26, more than double the previous peak as commodity ETFs led by gold and silver emerged as the primary drivers, according to a study by Zerodha Fund House.

The inflows significantly surpassed the earlier high of Rs 83,390 crore recorded in FY22. Over the past five years, from FY21 to FY25, annual ETF inflows had remained in the range of Rs 46,000 crore to Rs 83,000 crore, making FY26 a sharp departure from previous trends.

The inflows significantly surpassed the earlier high of Rs 83,390 crore recorded in FY22. Over the past five years, from FY21 to FY25, annual ETF inflows had remained in the range of Rs 46,000 crore to Rs 83,000 crore, making FY26 a sharp departure from previous trends.

The study highlighted that commodity ETFs accounted for a majority share of the inflows during the year. Gold and silver ETFs together attracted Rs 99,280 crore, contributing around 55 per cent of the total inflows, while equity ETFs received over Rs 77,000 crore, or 43 per cent.

January 2026 recorded the highest monthly inflows, with over Rs 39,000 crore, driven by heightened activity in gold and silver ETFs amid global market uncertainty.

Gold ETFs saw particularly strong growth, with net inflows exceeding Rs 68,000 crore in FY26, surpassing the combined inflows of around Rs 30,200 crore recorded over the previous five financial years. Assets under management (AUM) for gold ETFs rose from about Rs 59,000 crore in March 2025 to over Rs 1.71 lakh crore in March 2026.

Silver ETFs, introduced in 2022, also recorded strong traction, attracting more than Rs 30,000 crore in net inflows during the year, exceeding their total AUM at the start of FY26.

The report noted that the rise in gold and silver prices, along with the tax efficiency of ETFs compared to physical metals, may have contributed to increased investor preference for these instruments.

Average daily ETF turnover also saw a significant increase, rising from Rs 237 crore in FY21 to over Rs 4,200 crore during April 2025 to February 2026, indicating improved liquidity and growing participation in the ETF market.

The findings suggest a shift in investor behaviour towards diversified portfolios through ETFs, with commodity-based instruments gaining prominence.

- ANI

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Reader Comments

P
Priya S
This is great news but also a bit worrying. Is everyone just following the herd because gold prices are high? I remember when silver ETFs were launched in 2022, hardly anyone cared. Now everyone is jumping in. Hope investors are doing proper research and not just FOMO. Still, good to see Indians saving more than spending on useless things.
J
James A
Interesting. But I wonder how much of this is actual new money entering markets versus people just shifting from physical gold to ETFs. In the US, we saw similar trends but it took a decade. India seems to be catching up fast, especially with the regulatory support and platforms like Zerodha making it easy. The 4,200 crore daily turnover figure is impressive though.
K
Kavya N
I started investing in gold ETFs last year when my father suggested it over buying jewellery. He said, "Beta, making charges aur GST toh waste hai, ETF lo." He was right! Now with this report, I feel more confident. But I still keep some physical gold for festivals and weddings - old habits die hard in India! 😄
R
Rohit P
Good analysis but missing one key point: what about debt ETFs? The article only talks about gold, silver and equity. With interest rates high, shouldn't some people be moving to debt ETFs too? Also, the 1.8 lakh crore figure sounds huge but compare it to the overall mutual fund industry which is over 50 lakh crore. Still, 55% from commodities is a big shift. Let's see if this sustains when gold prices correct.
S
Siddharth J
Finally, Indians are learning to invest

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