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Indian Credit Card Spending to Zoom by 2013

Mar 12, 2010

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According to our latest research report "Indian Payment Card Market Forecast to 2012", credit card spending in India has shown noteworthy growth amid global financial downturn. Despite rising credit card debts and country's poor infrastructure, it is believed that the credit card spending will witness a healthy growth rate in coming years. RNCOS anticipates that with the increase in middle-class households in the country, credit card spending will grow at a CAGR of around 20% between FY 2011 and FY 2013.

We have done extensive research and prudent analysis of the Indian payment card market in order to understand the drivers that will continue to serve as growth savior for the market in coming years. We have identified that various factors such as rising income levels and changing lifestyle will lead to increase in the usage of cards in the country.

Our research indicates that the Indian payment card market is highly untapped and is still at its nascent stage due to a very low level of penetration in terms of payment card usage. The report also throws light on the active participation of government that is leading to the rapid growth of Indian payment card market. Besides this, various other factors propelling the growth in card usage in the country have been thoroughly evaluated in the report. New range of cards introduced by the government over the recent years, for varied purposes, has also been extensively discussed in the report. Our research also gives an overview of the factors that may hinder the growth of payment card industry in the years to come.

"Indian Payment Card Market Forecast to 2012" provides an extensive research and rational analysis along with reliable statistics of the payment card market in India. The report has thoroughly examined current market trends, industrial developments and competitive landscape to enable clients better understand the market structure and its progress in coming years. It also provides brief overview of the key market players including ICICI Bank Ltd, HDFC Bank Ltd, Citibank NA, State Bank of India and Punjab National Bank. Most importantly, the report gives future outlook for all the important aspects of the industry, considering the effects of global economic crisis on base drivers, opportunities and challenges faced by the credit card industry in the country. It will help clients to have proper insight into the current and future outlook of credit card market in India.

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