India's retail credit market now most dynamic in EMs outside China at 15.7%

China accounts for nearly half of all retail credit in the emerging markets with loan outstanding worth $6,142 billion at the end of December, 2017

India's retail credit market is now the most dynamic in the emerging markets outside China. In the last three years, credit to households in India has grown at a compounded annual growth rate (CAGR) of 15.7 per cent in dollar terms against the 11.9 per cent average growth in emerging during the period.

China tops the growth chart with annualised growth of 18.5 per cent per annum during the period. Total retail lending in India reached $281 billion at the end of December 2017, up from $181 billion at the end of December, 2014, data by Bank for International Settlement (BIS)