Prime Minister Manmohan Singh said that India needs a corporate debt market

Prime Minister Manmohan Singh reported on Wednesday that in order to meet up the projected investment of USD 1 trillion required to uphold the country's economic growth rate in the 12th Five-Year Plan (2012-2017), India requires developing a corporate debt market. "We must, I think, create a viable corporate debt market. I think that is the direction in which we must move," said Prime Minister Manmohan Singh.He also added that in addition to taking these steps, India needs to draw foreign investment from other countries. A corporate debt market will help the private industry to lift funds through the debt instruments and channelize these into specific sectors, including infrastructure. 

Poor infrastructure in India which includes the bad roads and power shortage, are adversely impacting the country's growth and streaming of foreign direct investment in important areas. Discussions are in process to create an infrastructure development fund and some announcements in this regard would be made by Finance Minister Pranab Mukherjee.

An investment worth USD 1 trillion in country's infrastructure sector has been estimated by the government to be made in the 12th Five-Year Plan and out of total it expects 50% to come from the private sector.