Research report launched on the Indian corporate debt market

Mumbai, Feb 4 (UNI) The City of London Corporation launched a research report on the Indian corporate debt market at a high profile round table meet here today.

Speaking to mediapersons here, City of London Corporation Policy and Resources Committee Chairman Michael Snyder said, ''This research of India's corporate debt market, prepared by the University of Reading is one of our most topical and informative reports. The report investigates the existing corporate debt market in India and the key factors which have hampered its development and also provides recommendations, which are both realistic and achievable.'' This project arose from a discussion at the City of London Advisory Council for India. The Advisory Council, comprising of a high level group of Indian business representatives, steers the work of the corporation's office here and provides guidance on the City of London's engagement with India.

Mr Snyder said, ''While the Indian capital market has developed rapidly over the last two decades, the corporate debt market remains small, restricted and illiquid. These are the undesirable features which persist, despite considerable attention. The focus of this report is to identify which of the many problems identified in the previous work are responsible for this lack of progress.'' The representatives of City of London Corporation led by Mr Snyder will meet the Chief of Securities&Exchange Board of India (SEBI), M Damodaran here tomorrow and later they will submit a memorandum to the Centre on this issue in the weekend.

UNI AR SR AG2006