India's private credit market doubles to $25 billion AUM in five years: Report

India's private credit market doubled to $25 billion in AUM over five years, with annual transaction value crossing $11 billion in 2025. A Moody's report attributes the growth to the IBC 2016 framework and Category II AIF regulations, while flagging potential liquidity risks from partial early redemption structures. Real estate accounts for nearly 40% of total private credit value, with infrastructure and utilities forming the largest segment, and the report sees significant headroom for further expansion.