Forbes India
India's corporate bond market, valued at around $645 billion and accounting for 17 percent of GDP, remains among the smallest across major economies, significantly trailing South Korea (76 percent), Malaysia (55 percent), China (38 percent), and the USA (37 percent), according to a recent report by ratings agency CareEdge. The US market is distinguished by broad issuer participation, deep secondary-market liquidity, and access across the credit spectrum. China’s market, though sizeable, is heavily dominated by state-owned enterprises. In contrast, India’s market remains concentrated among top-rated financial institutions and public sector entities (PSUs), with bank lending continuing to dominate corporate financing, leaving considerable scope for capital market deepening.
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