India’s mutual-fund industry reached a new milestone, with total assets under management (AUM) at roughly ₹75.61 lakh crore as of September 2025 — a year-on-year increase of 12.7%. Equity-oriented schemes were the primary driver of this growth, reflecting strong retail participation through SIPs. Fund houses note that while inflows remain healthy, valuations and liquidity in mid-cap and small-cap categories will be critical in maintaining momentum.