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India’s $1 Trillion Bond Market Sees Rising Heft of Insurers

  • India poised to be sixth-largest insurance market by 2032
  • Rapid financialisation visible in shape of India yield curve
Updated on

The growing wealth of India’s public is leading to a crucial shift in its $1 trillion sovereign bond market. 

Their savings — channeled through life insurers, provident and pension funds — are increasingly getting plowed into long-term debt, leading to a structural change in the costs of borrowing for Prime Minister Narendra Modi’s government.