To further the expansion of the economy, CII feels India must continue to work on removing infrastructure bottlenecks and further strengthen the financing of infrastructure development. CII projects investment requirement in infrastructure development to the tune of Rs 64.3 trillion during the period 2014-15 - 2018-19 and private sector will have to play a crucial role in achieving the desired goal.

Corporate Bond Market (CBM), as a stable and reliable source of finance, provides a pivotal mechanism for sustaining business investment, infrastructure development, and economic growth. CII in its report has analyzed the role corporate bond market has played in infrastructure development for many economies globally and brings out key recommendations for the policymakers to implement in the Indian context.

"Indian economy is at crossroads where development of corporate bond market is required for meeting the funding requirements of the industry and the economy. Thus, it becomes imperative to study the successful global models for benchmarking best practices and devising an implementable roadmap for the Indian economy," said, Chandrajit Banerjee, director general, CII.

For an emerging economy like India, Corporate Bond Market can play a pivotal role for financing infrastructure development as evidenced from the successful models of various countries. It is, therefore, possible for India to learn from the experiences of other countries in developing its CBM.

Speaking on the report, Banerjee added, "CII has studied the global best practices and models for development of CBM with special emphasis on benchmarking global best practices for the Indian market and deriving policy solutions to guide the future reform agenda."

The CII report analysed the models of both emerging and developed countries like Brazil, Chile, South Korea, China, Singapore, Japan and the United Kingdom, and noted that a variety of regulatory and market actions stimulated market growth in these economies. On careful examination, CII recommends, India needs to focus on few key measures (but not limited to) like broad based development of Government securities market, supportive taxation structure, uniform stamp duty, enhance institutional participation by re-visiting investment norms, institute a robust credit enhancement framework and most importantly strengthen bond holder protection mechanism.