Macro Finance
India’s Middle Class Spending Boom Comes With Growing Debt Bill
Bloomberg Markets·November 4, 2026·1 min read
India's middle class is fueling a spending boom on aspirational goods like iPhones, but it's coming with a growing debt bill. Restaurant worker Navjot Singh, earning 50,000 rupees ($521) monthly, took loans for a phone, PlayStation, TV, and courses. This trend highlights rising consumer credit and potential financial strain for households.
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