Should I invest in Franklin India High Growth Companies Fund

You have selected good funds for your retirement planning. You have selected funds from large cap, diversified equity, balanced fund and mid cap funds category and the the overall portfolio is aggressive.

I think, you should not give much importance to portfolio overlap instead importance should be given to fund selection. Since you already have selected good funds, there is no need to worry.

With regards to your investment in Franklin India High Growth Companies Fund, you may go ahead with it as it is one of the top performing funds in the diversified equity funds category. Hope this helps! Thanks!!