NITI Aayog releases Report on Deepening the Corporate Bond Market in India

Key facts

• NITI Aayog CEO Shri B.V.R. Subrahmanyam released the report titled “Deepening the Corporate Bond Market in India” on 11th December 2025 in New Delhi.
• The report outlines a reform-oriented roadmap to build a deeper, more resilient, and inclusive bond market capable of supporting India’s long-term investment requirements.
• India’s corporate bond market remains constrained by limited market depth, concentrated investor profiles, and modest secondary-market activity.
• The report recommends strengthening legal and regulatory frameworks, enhancing market infrastructure and transparency, and facilitating greater issuance by mid-size firms.
• It proposes broadening participation of insurance, pension and retail investors and expanding product offerings such as credit-enhanced instruments, long-tenor bonds, and sustainability-linked products.
• The study advocates improving liquidity in primary and secondary markets through deeper market-making and repo facilities and leveraging digital innovations including tokenised bonds and integrated data systems.