Opting for target maturity funds within the spectrum of debt mutual funds is considered a wise move if you seek a reasonable degree of return predictability.
To take advantage of the current high interest rates, you may allocate some additional money to fixed-income products like fixed deposits, bonds, debt mutual funds, Small Savings Schemes, etc.
Diversification is vital in investments, and exploring beyond the domestic stock market can broaden opportunities. Indian international mutual funds, like those emphasizing the S&P 500, provide Indian investors access to the thriving US equity market.