Though the above mentioned figures do indicate a healthy growth in number and volume of corporate bond market activity, in comparison with government bonds market, the corporate bond market is dwarfed.
A comparative position of the governments bonds and corporate bonds as on March 2013 as a proportion of GDP among the major Asian countries in the Table (page 2), reflects India at a very low position vis a vis some of the major Asian countries. Indian Corporate Debt Market – An Enigma 5. Thus corporate debt market in India has been quite an enigma.