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I'd start by narrowing the scope of this question to conservative Christians in the US and Europe. India has a larger population that the US and the EU combined, is quite religiously conservative and leans socialist. Even though the Catholic Church issued a "Decree Against Communism" in 1949, that has since been amended and many Catholics around the world embrace socialism. While modern Muslims do participate in market economies, Islam has some fairly strict laws against capitalism; Sukuk is the complex workaround they use in order to get against their prohibition against charging interest.
For Christians in the US and Europe I think there are a few major components.
Christianity has had strong capitalist elements for a long time. In particular, John Calvin argued, among other things, that God rewards good Christians in this life as well as the next. These rewards can take the form of material wealth and therefore material wealth is evidence of God's favor. This philosophy was obviously extremely popular among the wealthy.
After WWII the US government wanted a way to convince people that our erstwhile allies, the USSR and China should now be considered enemies. One obvious element to emphasize was that they were both Communists. An element of Communism was godlessness, "Religion is the opiate of the masses." So the US took the contrary stance and presented itself as a Christian nation. Two of the more obvious results were that "under God" was added to the pledge of allegiance and Congress replaced the unofficial "E Pluribus unum" (out of many, one) with, "In God we trust." Since it was primarily intended to be anti-communist it was, effectively, pro-capitalist.
In the US there was also a deliberate shift when George HW Bush realized that evangelical Christians made up a large part of the Republican base. At the time churches had a fairly strong aversion to politics. They generally considered politics and economics to be part of the profane world and thought it was beneath them. He managed to convince them that the profane wasn't just irrelevant to spiritual health, it was an active threat. By this view, good Christians couldn't ignore politics they had to take an active role to help fight Satan. Since the Republicans were the ones actively recruiting Evangelicals into politics they made sure the message stayed supportive of their policies (including economic policies).