Chennai: India’s credit ecosystem remains resilient despite the pandemic, as revealed in the latest joint report, ‘A Review of India’s Credit Ecosystem’ by Experian, a global information services company, and Invest India, the national agency for investment and facilitation.
The report highlights several key trends in the lending sector, notably, a key trend where India’s consumer credit market is projected to grow at a higher rate than most major economies globally.
This will be driven by a shift in India’s demography, a burgeoning affluent middle class ramping up private consumption, as well as growth in rural populations, all catalysed by technology. Recognising gaps in the market for the unbanked and underserved populations, the report explores how NBFCs and fintechs have transformed the lending landscape to cater to the financial needs of these consumers.
The report also highlights the regulatory environment supporting India’s credit ecosystem throughout the pandemic.
The report’s data, which tracks India’s credit ecosystem from March 2017 to February 2021, highlights a V-shaped recovery across Indian markets, with a gradual and steady improvement in sourcing trends.