A pedestrian carries shopping bags while walking. (Photographer: Matthew Lloyd/Bloomberg)
Indians have traditionally been savers. Save before you spend. Take on debt to create assets, like a home. These are common attitudes you’ll find across the country.Over the last few years though, this attitude towards debt has changed. More people are taking on debt for consumption, leading to a boom for retail lenders. Indians are also consuming more and saving less. Part of this may be driven by lower income growth.Have these atti...