The report provides detailed market analysis, information and insights into the Indian consumer finance market, including:
The Indian consumer finance market recorded a compound annual growth rate (CAGR) of 16.4% during the review period (2007-2011). It is projected to retain a high CAGR of 14.55% over the forecast period (2012-2016). The strong growth will be driven by the country's improving macro- and micro-economic fundamentals, and by the increasing domestic demand for consumer finance services. India's rising employment levels are expected to generate more demand for consumer finance in the country. The unemployment rate in India is projected to decrease from 6.6% in 2011 to 6.3% in 2016. The improving employment conditions in the country will encourage Indians to increase their personal consumption expenditure, which will create a higher demand for consumer finance products, such as personal loans, education loans, auto loans and mortgage loans. The country's sustained economic growth, rising disposable income levels, affordable interest rates and tax incentives are the main macroeconomic growth drivers that are encouraging the housing loan category's development in India. Although the Indian consumer finance market registered significant growth during the review period, the market's growth decelerated towards the end of the review period as a result of the country's microfinance crisis caused by India's strict regulatory environment. The Indian banking industry is well regulated and contains 167 commercial banks. The banks operating in India include a mixture of both domestic and foreign businesses. Despite the fragmented nature of the Indian banking industry, the competitive landscape for the Indian consumer finance market varies significantly depending on each product category.