Background Knowledge of the impact of affiliate stigma on the wellbeing of caregivers to children with specific learning disability (SLD) in India is limited. To fill in this gap in knowledge a cross‐sectional quantitative study was undertaken to assess the impact of affiliate stigma on the psychological well‐being of mothers with children with SLD in India, and test the mediating role of subjective burden, using an adapted version of Pearlin's stress and adaptation model. Methods Sample included 100 mothers of children with SLD. Data was collected using a structured interview schedule. Descriptive statistics, correlation and stepwise regression were used as the primary analytic tools. Results Affiliate stigma experienced by mothers significantly predicted low levels of psychological well‐being and subjective burden mediated the relationship between affiliate stigma and psychological wellbeing. Conclusions The findings call for developing targeted interventions to address affiliate stigma and positive appraisal of the caregiving situation, with the goal of improving the psychological well‐being of mothers of children with SLD.