<ul data-eligibleForWebStory="false"><li>India has expanded foreign investors' access to its $639 billion credit market by allowing global banks like HSBC Holdings and Standard Chartered to offer total return swaps for corporate bonds.</li><li>These total return swaps enable investors to gain exposure to India without the need to open a domestic account, attracting significant inflows into the nation's sovereign debt market since its inclusion in global bond indexes.</li><li>The approval for swaps is currently limited to onshore rupee debt, but there is increasing demand to offer these derivatives for dollar bonds from companies in GIFT City.</li><li>The move is seen as a way to further boost India's credit market growth, with increased interest from investors globally in accessing Indian assets through total return swaps.</li></ul>

India Widens Global Funds’ Access To $639 Billion Credit Market

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