India’s ambition to become a $30 trillion economy by 2047 is bold, but not implausible. To make that leap, the country needs a robust and inclusive financial ecosystem that can sustain and accelerate development, especially in times of global uncertainty. As the traditional banking sector contends with legacy issues and evolving regulations, non-banking financial companies (NBFCs), microfinance institutions (MFIs), and alternative capital sources like private credit are increasingly stepping into the spotlight.