Is it worth getting into AMs/PMs in India (fund size - irrelevant)?

Hello everyone!

I wanted to understand if there's a long-term growth opportunity working in AMs/PMs in India. I'm curious about the work that AMs typically do and was also thinking of breaking into this industry and settling there in the long term.

I've been working for financial/market research KPOs in India for the last 4.5 years (also my total work ex). In the current firm, my work pretty much revolves around collecting secondary research data for the client. In the previous firm, in addition to secondary research data collection, I also sometimes provided analysis of the gathered data and wrote quarterly reports on clients' target equities (but w/o buy-sell-hold ratings). So, overall, my work has been largely on the back-office side.

I don't have a background in finance (graduated as a Mech Engineer), so I was thinking of doing an MBA/master's in finance either from India or Europe, which I believe "could" help me get a role in an AM firm. Many people in my network suggested me to pursue CFA instead, but I'm thinking of doing it later alongside with my job, considering I'm 29 right now and wouldn't get a chance to do MBA/master's later.

Also, in this forum, some members believe that AM is slowly dying - is this true? I just needed a complete perspective before I move into AM.

Thanks in advance!