How many mutual fund companies are there in India?
Believe it or not, less than 10% of Indian households have invested in mutual funds. Keep in mind that there are 46 Mutual Funds in India. The main idea is that the Indian mutual fund industry is small in comparison to the size of the Indian economy. Studies show that the first Indian mutual fund was set up in 1963, when the Government of India created the Unit Trust of India (UTI). There has been a monopoly in this sector. In 1987, the Government of India permitted public sector banks and the Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) to enter the mutual fund industry.