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Market Impact: 0.1
India’s Middle Class Spending Boom Comes With Growing Debt Bill
Source: Bloomberg
Consumer Demand & RetailFintech
A 25-year-old restaurant worker in India earning 50,000 rupees ($521) a month used small loans to buy an iPhone, PlayStation and television, and to fund a wine and spirits course and a trip home. The excerpt provides an individual example of borrowing for purchases and expenses, without broader market data.
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