Mar 05: Lxme financial platform for women and EY India have today released a report ‘Unlocking Her Wealth: The Untapped Economy – Redesigning Financial Systems for Women from Inclusion Metrics to Ownership Outcomes’, introducing India’s first Women’s Financial Prosperity Index (WFPI). The index scores India at 28.1 out of 100, revealing that while financial access for women has expanded rapidly, the majority of their journey toward long-term wealth creation remains structurally blocked.
India has achieved one of the fastest financial inclusion expansions globally, with over 89% of women now holding bank accounts and digital payments embedded into daily life. Yet the report highlights a critical paradox: access has not translated into agency, and participation has not translated into wealth.
This paradox sits at the heart of Lxme’s own journey. In 2025, Lxme launched Lxme Pay, India’s first UPI experience designed specifically for women, built on the insight that everyday financial participation is often the first step toward long-term wealth creation. While digital access has expanded nationally, Lxme’s platform data shows that intentional design built around women’s financial realities significantly accelerates movement from transaction to investment.
Drawing on national datasets, global benchmarks, an EY survey of 1,033 respondents, and Lxme’s proprietary platform data from over one million users, the report outlines the structural barriers limiting women’s financial outcomes:
●Women earn ₹73 for every ₹100 earned by men, with over 60% employed in informal sectors with volatile incomes.
●Only 41.7% of working-age women participate in the labour force, compared to 78.8% of men.
●Just 8.6% of women invest in mutual funds or equities, versus 22.3% of men.
●Only 14.2% of women hold pensions or provident fund accounts, compared to 32.8% of men.
●Women account for just 25% of mutual fund folios and typically begin investing five years later than men, with nearly half the average first investment size.
●Indian women hold only 60% of men’s retirement wealth.
●Only 21% of Indian women are financially literate.
The Lxme – EY report estimates that enabling women’s participation in long-term financial investments could unlock a cumulative ₹40 lakh crore GDP-equivalent opportunity. This represents incremental national growth driven by deeper capital market participation, stronger domestic savings, and sustained long-term investment.
The Women’s Financial Prosperity Index (WFPI) is the first index of its kind to measure not just whether women have financial access, but whether they use it, control it, and ultimately build wealth through it. India’s score breaks down as follows:
|
Dimension |
Score |
What it means |
|
Access |
9.1 / 20 |
Many women have accounts but accounts used mainly for withdrawals, not wealth |
|
Inclusion |
5.8 / 25 |
Accounts are largely inactive; formal product participation remains low |
|
Agency |
7.4 / 25 |
Women lack decision-making authority and investment confidence |
|
Outcomes |
5.8 / 30 |
Few women are accumulating assets or preparing for retirement |
|
TOTAL WFPI SCORE |
28.1 / 100 |
Over two-thirds of the path to financial wealth remains blocked |
Commenting on the Report, Priti Rathi Gupta, Co-Founder, Lxme said,
“India has built one of the world’s most extensive financial inclusion infrastructures. But inclusion without agency is an incomplete story. Our data shows that when women are given the right environment; confidence, community, and products designed for their real lives, they don’t just participate in markets, they lead them. This report is a call to the entire ecosystem: regulators, banks, fintechs, and policymakers. The ₹40 lakh crore opportunity is not hypothetical. It is waiting. And unlocking it starts with designing for women not around them.”
Adding to it, Saurabh Chandra, Partner – Financial Services, EY India said,
“India has made significant strides in financial inclusion, but the report highlights, through comprehensive data analysis, that the financial system can improve in catering to the specific needs of women. The ₹40 lakh crore opportunity shows the potential that can be unlocked by enabling financial policies and practices that support women’s economic needs. For India to sustain its economic momentum, prioritizing women’s financial empowerment must be viewed as an essential component of our macroeconomic strategy.”
The report concludes that financial inclusion alone is not sufficient to drive economic equity. Bridging the gap between access and ownership will require coordinated action across regulators, financial institutions, fintech platforms, and policymakers to design systems that reflect women’s real income patterns, life cycles, and investment behaviours. Unlocking women’s wealth, the report argues, is not just a gender issue, it is a macroeconomic imperative for India’s next phase of growth.