Blume's Credit Series

Credit is the invisible engine behind nearly every meaningful economic outcome, whether it is a small business buying inventory, a household purchasing its first home, or a solar installer scaling distribution. Yet in India, credit remains structurally under-penetrated relative to the scale and ambition of its economy.

This gap is not due to lack of demand, but historically due to gaps in data, distribution, and risk infrastructure. That is now changing. The convergence of digital public infrastructure, improving formalization, and advances in AI-driven products across the credit value chain is fundamentally lowering the cost and expanding the reach of credit. 

This is an introduction to a multi-part series written to map this transformation in detail. Rather than treating credit as a monolithic market, the series goes into individual chapters covering verticals like MSME secured/​unsecured lending, solar financing, supply chain financing, affordable housing finance etc. Each of these segments represents a large but distinct opportunity, shaped by unique borrower behavior and distribution dynamics.