Mutual Fund Industry is one of the important financial industries in financial sector in India. It plays a significant role in transformation of funds from surplus sector to deficit sector by providing investment related services. This study analyses the trends in fund mobilisation, redemption, and net inflow within the Indian mutual fund industry over an eleven-year period from 2013–14 to 2023–24, using data sourced from SEBI Annual Reports. The analysis covers both private and public sector mutual funds, highlighting their relative performance and contribution to the industry’s growth. The findings indicate that the private sector has consistently dominated the mutual fund landscape, accounting for approximately 75–80% of total fund mobilisation and redemption annually. This dominance is attributed to its wider investor base, stronger distribution networks, and greater product diversification. Overall, the mutual fund industry exhibited robust growth, with Assets Under Management increasing more than six fold from ₹8.25 lakh crore to ₹53.40 lakh crore over the study period. The findings underscore the sector’s resilience, rising investor participation, and the critical role of private sector mutual funds in driving industry expansion.