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India’s corporate bond market poise to exceed Rs 100 trillion by 2030: Niti Aayog
Dec-12-2025

The Niti Aayog said that India’s corporate bond market has the potential to exceed Rs 100 to 120 trillion by 2030, provided some deeper structural reforms and institutional capacity-building are undertaken. It added that the market will evolve into a key pillar of India’s financial system, one that channels domestic and global capital towards productive sectors and underpins the country’s long-term growth trajectory toward Viksit Bharat 2047. It also noted that over the past decade, India’s corporate bond market has expanded significantly, with outstanding issuances rising from Rs 17.5 trillion in FY2015 to Rs 53.6 trillion in FY2025, recording an annual growth rate of nearly 12%.

Meanwhile, it pointed that India has not yet fully tapped its vast potential as compared to global peers. It added that the country’s bond market currently accounts for around 15% to 16% of GDP, a considerable improvement, but still well below the levels seen in countries like South Korea, Malaysia, or China. It highlighted that strengthening the corporate bond market demands continued reform in market infrastructure, risk management tools, investor diversification, and credit enhancement mechanisms. Further, deepening these reforms will catalyse private sector investment and also align financial development with the nation’s strategic goals of inclusive, sustainable, and technology-driven growth.

Niti Aayog noted that recommendations presented in the report are not merely incremental improvements but part of a comprehensive strategy to make India’s corporate bond market globally competitive, resilient, and inclusive. If implemented in a phased and coordinated manner, Niti Ayog noted that these reforms will address short-term frictions and build the institutional depth required for sustainable long-term development.

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