India's Offshore Bond Sales Jump as Modi Delivers Reforms: Chart

Indian companies are selling a lot more bonds overseas as reforms including a massive tax overhaul to make business easier are encouraging overseas buyers. Political stability under Prime Minister Narendra Modi and a “right direction on the economy” are giving confidence to international investors to buy Indian notes, according to A.S. Thiyaga Rajan, a senior managing director at Aquarius Investment Advisors. Overseas issuance so far this year has risen to $7.2 billion, triple that of the first half of 2016, as the lowest spreads on Indian dollar bonds in a decade have spurred sales.

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