Why do Indians Save?
Retirement Child Future { lng.WEALTH_CREATION }/ { lng.SAVINGS } Protection
The value of money decreases. That's why our savings should increase.
Worth of ₹1 lakh in the future

https://www.valueresearchonline.com/stories/45893/the-decompound-interest/

Inflation eats into the buying power of your money, thus in effect 'decompounding' it.

People save money to create wealth so that they can beat Inflation.