Where Data Tells the Story
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India’s mutual fund growth is no longer limited to its biggest cities.
AUM from beyond the Top 30 cities (B30) has grown from ₹5.91 trillion in 2022 to ₹14.47 trillion in 2026, steadily narrowing the gap with India’s Top 30 cities. B30 AUM has more than doubled in four years.
What’s driving this growth?
SIP investing, digital access, wider distribution networks and rising financial participation across semi-urban and rural India. The next wave of India’s mutual fund growth may come from smaller cities.