India’s alternative investment industry continued its expansion in 2025, with combined assets under Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs) rising to ₹23.43 lakh crore as of September 2025. According to new data released by PMS Bazaar, the segment has grown at a Compound Annual Growth Rate (CAGR) of 31.24% over the past decade.

PMS Bazaar announced the figures at its annual summit, where it also launched AIF Bazaar, a platform designed to increase transparency and accessibility for AIFs. The firm released a special edition magazine covering data and trends across the alternatives space.

PMS assets — covering discretionary and non-discretionary portfolios, and excluding co-investments and advisory AUM — increased from ₹1.27 lakh crore in September 2015

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