Credit card market in India to double, reach 200 million by 2028-29: Pwc

The number of credit cards in India is projected to reach 200 million by FY28-29, growing at a CAGR of 15%, according to a PwC report. The credit card industry has doubled its issuance over the past five years and is expected to continue this trend. However, debit card usage has declined due to the rising popularity of UPI and less attractive reward programs.