Following the Lehman shock in 2008, the global economy was recovering, led by emerging economies, but the pace of recovery has been slowing since around the middle of last year. By region, the U.S. economy has been recovering moderately. Recently, there have been some bright signs in consumption and production, and the market’s view has become somewhat optimistic.
Further, as pointed out by the SCs / RCs, in terms of Guidelines issued by SEBI, High Networth Individuals (HNIs) are already allowed to participate in the SR market as Alternate Investment Funds (AIFs) have been notified as QIBs, eligible for investment in SRs issued by SCs / RCs.