The number of mutual fund investors in India will increase from 4.5 crore to 26 crore by 2047

Delhi Delhi: The number of unique mutual fund investors in India is expected to grow 5-fold from 4.5 crore to 26 crore by 2047, as the country moves towards its developed India goal, according to a PwC report.
The report highlights the growing role of mutual funds in wealth creation and financial inclusion, projecting an increase in market participation and deeper investor engagement in the coming decades.

It states that “the number of unique mutual fund investors is expected to grow from 4.5 crore to 26 crore during this period, with the average AUM per retail investor reaching Rs 74 lakh”.
The report also mentions that mutual fund penetration in the country remains relatively low. As of January 2025, only 5.33 crore investors have invested in mutual funds, while over 25 crore people shop online, and 2.8 crore people travel abroad.
This shows that a large section of the Indian population is still looking for mutual funds as an investment option.