New Delhi, Dec. 11 -- India's bond market needs to be seven times larger to support India's growth, increase liquidity, broaden the investor-issuer base (especially mid-sized firms), and reduce bank dependence, aiming for global scale.

According to BVR Subrahmanyam, CEO of NITI Aayog, who released a comprehensive report on deepening the corporate bond market on Wednesday, the sevenfold expansion will support the country's growth ambitions and provide investors with stable, long-term financing options.

Speaking at the release of "Deepening the Corporate Bond Market Report," Subrahmanyam highlighted a striking disparity. While India boasts world-class equity markets, its corporate bond market lags far behind, measuring just one-seventh th...