Indian economy and the Indian Capital Market in particular, have recorded growth during the decades of eighties and nineties. As the countries first and foremost mutual fund, Unit Trust of India had played a very important and supportive role in this process. As a pioneer institution, UTI came out proactively with several innovative schemes to mobilize larger household savings. UTI had brought schemes for everyone in the family, from the new born child to old and retired individuals. There are schemes for those who prefer safe and steady rising returns as well as high growth schemes for those who are ready to take some risk. UTI had also launched many offshore funds which guarantees higher returns, thus becoming an important investment vehicle for small investors on  one hand and source of funds for economic development on the other hand..

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Keywords: Indian Economy, Indian Capital Market, Unit Trust of India, Economic Development.