India’s growth story is quietly changing shape. The next leg is being driven not only by large corporations or global inflows but by thousands of small and medium enterprises finding their way into the formal economy.

What used to be a scattered, largely unorganised ecosystem is turning into one of the country’s most investible growth segments. From mutual funds and private-equity houses to retail investors and global venture pools, capital is steadily tilting toward India’s mid-market companies. The shift isn’t a passing phase. It reflects deeper forces, the formalisation of business, easier access to finance, and a more transparent marketplace.