The present study was conducted to evaluate the growth response of Capsicum (Capsicum annuum L.) to varying levels of Phosphorus (P), Zinc (Zn) and Arbuscular Mycorrhizae (AM). A pot experiment with twenty-four treatment combinations was setup in the net house. The treatment combination consisted of 4 levels of P: P0- 0, P50 - 237.5 kg ha-1 SSP, P75 - 355.5 kg ha-1 SSP and P100- 475 kg ha-1 SSP, 3 levels of Zn: Zn50- 5 Kg ha-1 ZnSO4, Zn75-7.5 Kg ha-1 ZnSO4, Zn100- 10 Kg ha-1 ZnSO4 and 2 levels of AM: I0- 0 and I15- 15 g per pot. The main objective of the study was to reduce the antagonistic interaction between P and Zn by using AM fungi. The results of combined effects of application of P, Zn and AM revealed that P, Zn addition along with AM fungi improved plant growth parameters, plant nutrient content and total nutrient uptake (both above ground and underground portion) of the plant. The results indicated increase in plant height, root length and total nutrient uptake by increasing the level of P, Zn and Arbuscular Mycorrhizae. Also, Arbuscular Mycorrhizae enhanced plant growth by reducing Phosphorus or Zinc deficiency. Antagonistic effects of P and Zn addition on plant nutrient content and total nutrient uptake were absent due to application of AM fungi. Our results indicated that by using appropriate levels of AM fungi along with P and Zn, antagonistic interactions can be reduced for maximizing the plant nutrient content and nutrient uptake which may lead to improvement in plant growth and nutrition.