India Credit Card Industry Outlook 2022 - 2026

Key Market Indicators

The number of credit cards in India is expected to reach 63 million by 2026, up from 53 million in 2021. This is an average growth of 3.2% year-on-year since 2017, when the number was at 47 million. India ranks ninth in the world, with the UK overtaking it in 2021 to reach 53 million. China, Japan and Brazil are ranked second, third and fourth respectively. Credit card transaction value in India is set to reach a whopping $126 billion by 2026, up from $102 billion in 2021. This is an average yearly growth of 3.8% since 2017, when the figure was at $88 billion. In 2021, India was eighth in the world rankings, with Italy ahead of it at $102 billion. South Korea, Japan and Canada were ranked second, third and fourth respectively.

India Credit Card Market Data and Forecasts

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