Securities and Exchange Board of India (Sebi) today said the reporting platform for the corporate bond will be ready in 3 to 6 months' time."The trading in corporate bonds through an unified exchange will be set up by the Bombay Stock Exchange (BSE) and will start in 6 months time. Within two years time our domestic market should be a hub for the Asian market," T C Nair whole time member of Sebi, said at a seminar on the corporate debt market in India here today.It is estimated that around $3 billion can enter the domestic corporate bond market provided the government raises the current limit of $ 500 million cap on investments that can be made by foreign institutional investors (FIIs).The BSE has been given the mandate for forming the trading platform for exchange traded bond market as well as for information reporting."We stand committed to the new responsibility and are awaiting clarity on certain nitty-gritties regarding operating issues," Rajanikant Patel, CEO & MD of BSE, said."As in equity and derivatives and now in the bond market as well, we will take India to the top level," Patel said. Currently, the Indian debt market attracts just 1% of GDP in investments as compared to 2% in China and 11% in Japan.
