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The National Stock Exchange (NSE) launched the Nifty 500 Ahimsa Index on 10 July 2026, India's first thematic stock market index dedicated to animal cruelty-free investing. It follows the launch of the BSE Saatvik 100 Index in June 2026, reflecting the growing trend of values-based investing in India.

About Nifty 500 Ahimsa Index

The Nifty 500 Ahimsa Index tracks companies from the Nifty 500 universe whose business practices align with the principle of "Ahimsa" (non-violence) by avoiding activities involving cruelty to animals.

Developed jointly by NSE Indices and the Ahimsagain Foundation, the index provides investors with an opportunity to invest in companies that meet ethical business standards based on animal welfare. Unlike conventional ESG (Environmental, Social and Governance) investing, which primarily focuses on environmental sustainability, governance, and social responsibility, the Ahimsa Index adopts an Indian philosophy-based investment approach.

Selection Framework

Companies are assessed using the Ahimsa Investment Movement (AIM) Framework, which classifies them into:

• Green Band: Fully compliant with animal welfare criteria
• Orange Band: Partially compliant
• Red Band: Non-compliant

Only Green Band companies are included in the index.

The index largely includes companies from sectors such as Information Technology, Healthcare, Real Estate, and Automobiles, while excluding businesses involved in:

• Dairy, meat, poultry and leather products
• Animal testing
• Leather and wool-based fashion products
• Most commercial banks and major NBFCs
• Several Reliance Group companies (except Reliance Power)

About the National Stock Exchange (NSE)

The National Stock Exchange (NSE) was established in 1992 and commenced operations in 1994 to introduce a transparent, nationwide electronic trading platform.

Headquartered in Mumbai, it is India's largest stock exchange and is recognised under the Securities Contracts (Regulation) Act, 1956.

The NSE facilitates trading in:

• Equity shares
• Derivatives
• Currency and commodity derivatives
• Debt securities

It functions under the regulatory supervision of the Securities and Exchange Board of India (SEBI). Clearing and settlement are undertaken by NSE Clearing Limited, while depository services are provided through the National Securities Depository Limited (NSDL).

Significance

The Ahimsa Index introduces an indigenous approach to ethical investing by incorporating India's philosophical principle of non-violence into capital markets. It is expected to serve as a benchmark for future Exchange Traded Funds (ETFs) and index funds, encourage responsible corporate practices, and cater to the growing demand for values-based investment products.