Homegrown private credit firms are gaining traction in India, challenging global credit giants for market share. These local players are leveraging larger capital pools and increased risk appetite for larger transactions.

According to Bloomberg Markets, the shift represents a significant change in India's lending landscape. Global funds once dominated the space, but domestic firms are now securing more deals.

The trend is driven by several factors including better local market understanding, faster decision-making, and stronger relationships with Indian businesses. Local firms also benefit from regulatory familiarity and reduced compliance burdens compared to international competitors.

Market participants note that this evolution reflects broader trends in emerging markets where regional expertise is increasingly valued over global scale. The competition is reshaping deal structures and pricing in India's private credit sector.