Analysis of the Indian Securities Industry: Market for Debt

Abstract

In the current liberalized environment, the Indian debt market appears to be all set to take off. With the commencement of trading of debt instruments by the National Stock Exchange this year, the secondary market of the Indian debt market is expected to achieve a significant level of activity. In this context, a closer understanding of the Indian debt market in terms of the private corporate sector, public sector, government sector, and the housing finance sector assumes increased importance.In this paper, the authors provide the much needed perspective on the Indian debt market as a whole and make recommendations for its development wherever necessary.