India emphasising deeper corporate bond market

Singapore: India is emphasising the deepening of corporate bond market for the infrastructure sector as well as monetising and securitising infrastructure assets to provide greater role for the Foreign Portfolio Investors, India's envoy to Singapore Jawed Ashraf said on Monday.

Addressing a forum on the Indian Budget 2019-20 here, Ashraf said the slew of measures taken by the Indian government is also to increase the limit of the FPI investment to the maximum permissible foreign investment for the infrastructure sector.

"The budget has announced measures for deepening of the corporate bond market, especially for the infrastructure sector. This is in addition to the slew of measures announced for providing greater role for Foreign Portfolio Investors in India," Ashraf said at the forum organised by the Indian High Commission and PriceWaterhouseCoopers, a multinational professional services network.

Ashraf said FPIs are to be allowed to sell off their debt securities issued by Infrastructure Debt Fund - Non Banking Finance Corporations (IDF-NBFCs) to domestic investors within the specified lock-in period.