India's non-sovereign debt may rise to 150 pc of GDP by 2047: Crisil
Economic Times 2d ago·16 Jul 2026, 9:44 am
Crisil has projected that India's non-sovereign debt, which includes corporate and household borrowing, could rise to 150% of the country's GDP by 2047. This significant increase is viewed as a necessary requirement to support the nation's ambitious goal of achieving a USD 30 trillion economy. To sustain this growth, the country will need to expand its credit supply beyond what traditional bank lending can handle.
This shift implies a growing reliance on the debt capital market to meet the massive credit demand. For investors, this trend highlights the increasing importance of fixed-income instruments and the broader financial ecosystem. It underscores the need for reforms to deepen the market and broaden participation, which could influence the investment landscape in the coming decades.
Moving forward, market participants should watch for policy changes aimed at improving market depth and accessibility. Strengthening the debt capital market is crucial for channeling savings into productive investments. Investors should keep an eye on how these developments shape the availability of credit and investment opportunities in the long term.
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