• Corporate bond expansion: India's outstanding corporate bond market grew at an annualized rate of 13.6% to 59.1 lakh crore in FY26, outpacing bank credit growth of 12.1% and rising from 11.7% of GDP in FY12 to 17.1%.
• Debt issuance profile: Total debt fundraising across private placements and public issuances is estimated at 15.5 lakh crore in FY26, with private placements accounting for over 95% of issuances and AA-and-lower rated paper rising to approximately 40%.
• REIT and InvIT debt: REITs and InvITs have raised over 72,000 crore across three fiscal years, with debt fundraising expected to exceed 30,000 crore in FY26 to comprise nearly 70% of their total capital raised.
• Global market depth: India's corporate bond penetration of 17.1% of GDP and 21.5% of total domestic debt highlights significant expansion headroom when compared to South Korea at 75.7%, Malaysia at 54.7%, and the US at 38.2%.