Credit Cards / Loan Products in India > Experian-Equifax

Credit Card Penetration India Vs Global Peers

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cardbhai:
The credit card penetration is quite low in India as compared with levels in other countries. There are only 62 cards outstanding
per 1,000 people of the working age population in India.

Even spends on credit cards as a percentage of GDP is just ~3.6%, which is substantially lower when compared with countries such as
South Korea (38%), US (18%) and Australia (17%). Also, while overall consumer loans to GDP in India is ~19%, credit card loans forms only 0.8% of GDP. Thus, we see a strong structural growth opportunity for India's credit card industry.

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