Andy Mukherjee, Columnist

Amazon, Walmart Will Help Save India’s Banks

Consumer credit offers lenders a lifeline after a buildup of bad corporate loans.

October 9, 2019 at 11:00 PM UTC

Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia. Previously, he worked for Reuters, the Straits Times and Bloomberg News.

Credit extended to consumers by the likes of Walmart will help revive lending in India.
Photographer: Dhiraj Singh/Bloomberg

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A common refrain you hear in India is, “There’s no credit in the market.”

The despondence cuts across industries as diverse as real estate, autos and road construction. An 88% slump in the flow of funds to the commercial sector between April and September shows that the producers’ unease is justified.