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India now has 553 equity index funds and ETFs, managing Rs 10.3 lakh crore. Fund houses keep adding to the shelf: 301 of these schemes have launched since January 2024, many on new factor, sector and theme indices. In all, they track 138 different indices, from the Nifty 50 to defence and railways.
The money has not followed the shelf. Two indices, the Nifty 50 and the Sensex, hold 72 per cent of it, and much of that sits in ETFs the EPFO invests through. The three graphs below show where the money sits, who put it there, and how little the newest schemes hold.
This article was originally published on November 11, 2026.
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