<b>Letters</b>:Credible information

In the article, “Fuelling growth with corporate bond” (March 7), Arvind Mayaram has drawn upon his rich experience to make some excellent suggestions for building a robust debt market in India.
 
I would, however, hesitate to compare India’s corporate debt statistic with that of China or Korea, countries with much higher savings rates, particularly in financial assets. Also, India’s gross domestic product structure lacks the size of the industrial corporate sector, potentially the biggest user of corporate bonds, not information technology companies or the service sector and the agro sector.
 
The basic point is well-made: Reliance on bank