Housing Finance Sector at Risk of Failure Amid Rapid Growth

India's housing finance sector is on the cusp of significant growth, projected to expand from USD 3.9 billion in 2025 to USD 16.5 billion by 2033.

This near-fivefold expansion will be driven by rising aspirations and a generation of first-time borrowers entering formal credit for the first time.

However, Smita Jain, Regional Vice President of Financial Services at Salesforce, warns that merely digitizing processes is not enough to meet this growth.

Digitization, she explains, is simply taking paper-based processes and moving them online, but modernization involves redefining workflows and bringing every internal department onto a single platform.