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Nawal
Chaos • 1d
India is becoming a country where you can be broke, but still look rich 🔥 We now live in a country where someone earning ₹45,000/month Drives a 17 lakh SUV Buys a 1 lakh iPhone Hosts a 15 lakh wedding All without actually having the money all as a survival strategy in a society that rewards optics. And it's happening at scale: (1) 79% of car sales in India are financed. (2) Credit card spending in India crossed 1.5 lakh crore/month in 2024. (3) BNPL has 100M+ active users (most of them under 35) (4) 1 in 3 smartphones in Tier 2 is bought on EMI (5) 62% of Indian weddings are partially or fully debt-financed ( I didn't knew about this tbh ) (6) Household debt-to-GDP: 40% (up from 32% in 2019) And yet, this story rarely gets told. Because In a country obsessed with log kya kahenge, being broke is acceptable but looking like one is not. Especially if you're young & Gen Z isn't reckless. They're under-rewarded, over-exposed, and algorithmically reminded of what they don't have, every single day. They earn in a slow economy but scroll through a fast one. So they borrow not just to consume but to participate. But here's the risk we don't talk about: When a society starts financing identity, not assets it doesn't just accumulate debt. It erodes trust. In people. In banks. In growth itself. Not every EMIs-for-lifestyle problem will explode but the emotional math is already fragile. What happens when validation becomes the product and debt is the distribution? Niket Raj Dwivedi I'm sure you'll agree with this as you have already pointed out EMI TRAP earlier .
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