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AMFI’s vision documents titled ‘ The mutual funds route to Viksit Bharat @2047’ estimates that the Indian MF industry will surpass India’s GDP by 2047. AMFI has commissioned this report which was prepared by PwC.
The document says that while India’s GDP is expected to grow from Rs.279 lakh crore (in 2024) to Rs.2492 lakh crore by 2047, the AUM of the MF industry will grow from Rs.53.4 lakh crore (in 2024) to Rs.2791 crore by 2047. Also, the MF industry is currently at 19% of the GDP. By 2047, this number is expected to go up to 112% of the GDP.
Further, the number of retail investors in the MF industry will grow from 4.50 crore in 2024 to 26.30 crore by 2047.On the other hand, the number of mutual fund distributors and RIAs will go up from 2.07 lakh to 9.95 lakh by 2047.
Interestingly, the report estimates that the total number of mutual fund companies will go upto 212 by 2047.
Other key highlights of the report are:
- Retail AUM will increase from Rs.34 lakh crore in 2024 to Rs.1954 lakh crore by 2047
- Institutional AUM will go up to Rs.837 lakh crore by 2047
- The penetration of mutual fund in India will go up from 3% currently to 15% by 2047
Aligned with the vision of Viksit Bharat 2047, AMFI has introduced a series of initiatives to ease access to mutual funds and enhance financial literacy across the country.
Farm to financial freedom initiative
This program aims to introduce mutual fund investments to dairy farmers and rural communities. By providing financial literacy in their local language, digital accessibility and creating awareness of investor friendly investment solutions like mutual funds, the initiative seeks to integrate rural India into the formal financial ecosystem.
The Sahi Journey – Empowering retail investors
AMFI continues its efforts to democratize investment opportunities by enhancing financial literacy and simplifying investor journeys. With 90% of mutual fund transactions now digital, this initiative promotes AI-driven personalized investment journeys, vernacular investor education and regional strategies to expand reach beyond metro cities and into Tier 2, Tier 3, and rural markets.
