Role of Credit Cards in Enhancing the Purchasing Power of Indian Consumers and associated Risk and Challenges

Dr. Harish Sharma

Abstract: This paper explores the pivotal role credit cards play in boosting the purchasing power of Indian consumers. Through an analysis of consumer trends, financial data, and policy frameworks, the paper examines how credit cards have shaped consumption patterns and contributed to economic growth. The study integrates data from reputable financial institutions, government reports, and economic research studies. This paper also reveals the risk and challenges associated with credit cards.

Keywords: Credit Card, Indian Consumers, Digital Payments, Economic Growth, Consumer Behavior