Purpose: Age related macular degeneration (AMD) is the leading cause of blindness in the developed world. Its incidence is on the rise in developing nations as well. Formation of choroidal neovascular membrane(CNVM) is the major cause of vision loss in AMD. Purpose of this study is to study the progression of AMD and risk factors associated with development of CNVM in Indian population. Methods: 200 eyes of 100 patients of more than 55 years of age presenting to our out patient department with AMD were selected and were followed for a period of 2 years. Progression of disease into active CNVM and conditions predisposing to its formation were analysed. Results: Progression of AMD into neovascular form (CNVM) is faster in the elderly population. Approximately 13% of patients developed CNVM within 1 year of presentation. Patients with large drusens, RPE abnormalities, serous PED have an increased risk of developing CNVM. Our study showed that, serous PED was the strongest risk factor in development of CNVM. Conclusion: Incidence of CNVM in AMD patients is more as compared to that of western population. Serous PED followed by a presence of both large drusens and RPE (Retinal Pigment Epithelium) abnormalities combined, are the major risk factors for Indian population. Early identification of risk factors and determining the major risk factors for development of CNVM in Indian population can help in early diagnosis and early treatment resulting in a better visual outcome.