India's total outstanding bonds: Here's a detailed breakdown

The Indian bond market's valuation (government and corporate) stood at $2.69 trillion (Rs 230.24 lakh crore) at the end of December 2024, data available with IndiaBonds.com showed.

Out of which, the value of total government bonds came at $2.08 trillion (Rs 178.66 lakh crore), representing 77.6 per cent of the total amount. From this pie, government securities or G-Secs accounted for 46 per cent ($1.23 trillion or Rs 105.91 lakh crore), it also highlighted.

State development loans (SDL) represented 25.74 per cent ($692.20 billion or Rs 59.27 lakh crore) of the total government bonds. Whereas, Treasury Bills, UDAY bonds and Special Securities were estimated at 3.3 per cent ($88.77 billion or Rs 7.60 lakh crore), 0.59 per cent ($15.84 billion or Rs 1.36 lakh crore) and 0.24 per cent ($6.35 billion or Rs 54,358 crore), respectively.

In the case of corporate bonds, the portion consisted of around 22.40 per cent valued at $602.40 billion or Rs 51.58 lakh crore.

During the nine months of FY25 (in US dollar terms), the IndiaBonds.com data noted that a total of $100 billion has been added to the stock of outstanding bond market after accounting for a 2.7 per cent depreciation of Indian rupee (INR) in the same time period. In INR terms, the overall market grew by about 6.5 per cent, while the corporate bond market grew faster at 9 per cent.

However, it underscored the bond markets in India are just at 0.65 of the equity market-cap, unlike developed markets where the bond markets are 1.2-2.0x of the equity markets. With the equity markets swoon, portfolio diversification via bonds has come to the forefront and is also evident by the volumes we see this quarter from investors all over

Launched in 2021, IndiaBonds is a Sebi-registered leading online bond platform provider. It provides access to investors in the fixed-income market in a low-cost, transparent, and easy-to-use manner. The source of this data is Clearing Corporation of India Limited (CCIL) and Securities and Exchange Board of India (Sebi).