During the review period (2007-2011), Indian consumer finance market recorded a compound annual growth rate (CAGR) of 16.4%.
In 2011, housing loans category in the Indian consumer finance market, generated about 56.9% of the total market value.
During the review period, the gold loans category recorded a CAGR of 43.93% while the education loans category recorded CAGR of 30.20%.
The education loans category growth was primarily due to the expansion of India’s education services, as well as the rising number of students choosing to travel aboard to access higher education.
During the review period, Indian auto finance category recorded a CAGR of 18.85% while the credit card loans category recorded a CAGR of -0.28%.
Indian consumer finance market is projected to retain a high CAGR of 14.55% over the forecast period.
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 and the unemployment rate in the country is projected to decrease from 6.6% in 2011 to 6.3% in 2016.
The full report ‘Emerging Opportunities in the Indian Consumer Finance Industry: Market Size, Strategies, Products and Competitive Landscape’ is available from BRICdata. Click here for more details.
