A mutual fund is a financial intermediary and a common pool of money because there is a perfect transmission of money between savers (holders) and the securities in which they want to invest according to their pre-specified objective. This paper aims to introduce the attributes of India's mutual fund industry, its development since its inception with UTI, the entrance of public sector, private sector, and foreign enterprise, and the various schemes offered by companies, which started to address the requirements of small investors. The objective of the study is to reveal the Mutual Fund industry in India from its inception to its current position. Also, discusses the mutual fund industry's prospects, as well as some factors kept in mind while investing in mutual funds for making safe investments with appropriate returns. The study is based on secondary data. Various statistical methods, such as average, percentage, and CAGR, were used to analyze the data. The study infers that the mutual fund industry in India is expected a tremendous growth in the coming years.