“449 rupees in interest”: California, banks, not Apple, says on the mad 17 in India

In the midst of the iPhone 17, the Nitin Kaushik legal accountant has sparked a discussion by highlighting an uncomfortable fact – Apple may sell devices, but Indian banks are laughing on their way to a cellar.

In a post on X (previously Twitter), Kaushik dismantled the numbers behind the love relationship in India with excellent smartphones. “Harsh Truth: iPhone 17 is not an Apple GoldMine mine in India … it’s banks,” he wrote.

According to Kaushik, the new iPhone 17, which is $ 82,900, can see about a million buyers in India. Among these, approximately 70 % – approximately 7 Lakh customers – buy on EMI charts. While these plans make the phone look affordable, they also generate a huge income for banks.

Mathematics in Kaushik shows that with EMI for 12 months by 14 %, each buyer ends with $ 7,443 per month, which reduced an additional $ 6,420. Putted in 7 for these buyers, Indian banks will get 449 amazing rupees in interest alone.

“Consumers believe that they” own luxury. “Apple manufactures the product, but Indian banks face hundreds of graves in attention.

Insight emphasizes how excellent consumption in India tangled with a credit economy. For many buyers, iPhone is the least symbol of wealth and a more reflection of the ambition that is funded by debt.

Kaushik summarized it frankly: “For most Indians, iPhone devices are not a symbol of standing. It’s evidence of how banks are allocated from ambition.”

Industry observers agree that this trend reveals a deeper social-economic transformation-where the luxury consumption in India is increasingly driven, as lenders get huge profits by financing the aspirations of the middle class.