70% of Iphones in india are sold on DEBT (2025)
11% of small borrowers have defaulted on their DEBT
Average indian household is saving less than 20% of their income
EMI s have become a lifestyle statement
India’s household debt is about 42% of GDP
More than 32% of that is into unsecured debt like Credit cards & BNPL (buy now pay later)
Bottomline…..
Lifestyle Spending is a slow creep
It’s how much you OWN but how much you OWE decides your wealth quotient (keeping the fraudulent defaulters aside…yeah, many there that way – live off OPM, Other Peoples Money)