India, Aug. 31 -- justify;">For much of the past decade, India's SIP story has been shaped by the familiar urban centers Mumbai, Delhi, Bengaluru, Pune and by investors who could comfortably commit a few thousand rupees each month. That narrative is valid; it laid the foundation of the mutual fund industry and made "SIP" a household term. Yet, the next wave of growth is unfolding differently. It is emerging from smaller towns and newer demographics, marked by modest ticket sizes but immense scale. This shift has the potential to redefine the industry, bringing millions of first-time investors into the fold and amplifying the long-term impact far beyond what the early urban story achieved.

The next chapter of India's SIP journey will not ...