India, June 30 -- Improving access to market-based credit can help alleviate financial frictions faced by many firms, especially younger ones, and boost corporate investment, thus aiding economic growth in India, according to a research paper of National Council of Applied Economic Research (NCAER).

For India to achieve a sustained level of growth, private sector has to invest at a consistent pace in the coming decades.

"Quality of investment has improved in the past decade but it has come at the expense of quantity of investment for firms without access to wider credit markets," says Prof Amiyatosh Purnanandam (University of Texas, Austin), in his paper "Corporate Investment in India: Lack of Investment Opportunity or Lack of Funds?"....