The Changing Face of Indian Consumers.
India’s consumer and retail landscape has never been as changing as it is today. Rising incomes, the middle class, digital adoption, and shifting lifestyles rewrite how consumers shop, spend, and connect with brands. From fashion and lifestyle to FMCG and luxury goods, growth here is driven by both aspiration and access.
For global and domestic brands, this momentum also brings complexity, from multi-layered regulations and tax structures to supply chain fragmentation and sustainability expectations.
At HLS Global, we help retail businesses navigate this transformation with a multidisciplinary team that supports retailers in structuring operations, managing compliance, and building scalable, transparent, and resilient retail systems across India’s diverse markets.
India’s consumer lending market was estimated at USD 690–711 billion in 2024 and is expected to approach USD 1 trillion by 2029. Home loans account for nearly half of total consumer credit. Retail credit continues to grow steadily, supported by fintech platforms that expanded access to formal credit, with over 109 million personal loans sanctioned in FY25.
India’s consumer lending market was estimated at USD 690–711 billion in 2024 and is expected to approach USD 1 trillion by 2029. Home loans account for nearly half of total consumer credit. Retail credit continues to grow steadily, supported by fintech platforms that expanded access to formal credit, with over 109 million personal loans sanctioned in FY25.
Leasing and hire-purchase activities in India are classified as financial services and are regulated by the Reserve Bank of India (RBI). The commercial vehicle leasing market was valued at approximately USD 11.12 billion in 2024 and is projected to grow to USD 23.79 billion by 2032 at a CAGR of about 10.1%. Leasing is gaining traction as companies seek lower upfront costs, operational flexibility, and asset efficiency.
Leasing and hire-purchase activities in India are classified as financial services and are regulated by the Reserve Bank of India (RBI). The commercial vehicle leasing market was valued at approximately USD 11.12 billion in 2024 and is projected to grow to USD 23.79 billion by 2032 at a CAGR of about 10.1%. Leasing is gaining traction as companies seek lower upfront costs, operational flexibility, and asset efficiency.
Total AIF commitments reached approximately USD 149 billion by December 2024 and exceeded USD 174 billion by September 2025. Assets under management have grown at nearly 49% CAGR over the past decade. Industry projections indicate that AIF commitments could surpass USD 1 trillion by 2030, supported by regulatory oversight and growing institutional participation.
Total AIF commitments reached approximately USD 149 billion by December 2024 and exceeded USD 174 billion by September 2025. Assets under management have grown at nearly 49% CAGR over the past decade. Industry projections indicate that AIF commitments could surpass USD 1 trillion by 2030, supported by regulatory oversight and growing institutional participation.
India’s fintech industry was valued at approximately USD 111 billion in 2024–25 and is projected to reach USD 421 billion by 2029, growing at around 31% CAGR. Fintech adoption stands at approximately 87%. India hosts 26 fintech unicorns with a combined valuation of around USD 90 billion, ranking among the top three fintech ecosystems globally.
India’s fintech industry was valued at approximately USD 111 billion in 2024–25 and is projected to reach USD 421 billion by 2029, growing at around 31% CAGR. Fintech adoption stands at approximately 87%. India hosts 26 fintech unicorns with a combined valuation of around USD 90 billion, ranking among the top three fintech ecosystems globally.
India ranks fifth globally in market capitalisation, with NBFC balance sheets expanding nearly 19% in FY25 to USD 740 billion. Retail credit reached approximately USD 937 billion by FY25. Private credit investments hit a record USD 9.0 billion in H1 2025, reflecting strong demand and investor confidence.
India ranks fifth globally in market capitalisation, with NBFC balance sheets expanding nearly 19% in FY25 to USD 740 billion. Retail credit reached approximately USD 937 billion by FY25. Private credit investments hit a record USD 9.0 billion in H1 2025, reflecting strong demand and investor confidence.
