Why does the Indian market have a lot of debt?

India’s financial sector is in deep trouble.

Its gross domestic product (GDP) declined for a third straight quarter and the country’s debt-to-GDP ratio soared above 100% for the first time in years.

And the country has been in a severe recession for years.

But despite all of that, Indian investors continue to bet big on the country.

Here are some of the big winners and losers.