India’s mutual fund industry achieved a record asset base of ₹75.61 lakh crore in September 2025, rising 12.7% year-on-year. Equity assets climbed 9.5% while SIP inflows reached an all-time high of ₹29,361 crore, up 20% YoY. Retail participation crossed 5.7 crore active SIPs, with passive funds expanding to 17% of total AUM. Analysts attribute the growth to consistent retail discipline and strong market momentum across large-cap equity schemes.