Overview Agenda
19th Asia Bond Markets Summit - India Edition
India's next chapter
18 July 2024 | Mumbai
Overview

The excitement is palpable. With financial markets settling to a new base of higher for longer, investors are starting to venture into the emerging markets. Among these markets, India stands out above the rest. Years of bold reforms have turbo-charged economic activity attracting both direct and portfolio investors looking to ride the wave of optimism and opportunity.

The country posted a growth rate of 7.2% in FY22/23, one of the fastest-growing major economies, according to the World Bank. It was the second highest among the G20 countries and nearly twice the average for emerging economies. Its strong showing was on the back of solid domestic demand, infrastructure expenditure, and the strength of its financial sector.

Within the financial sector, India’s bond market is attracting consideration attention. 2024 is likely to be a year of significant change and opportunity. Its inclusion into the JPMorgan Government Bond Index-Emerging Markets (GBIEM) global index suite is set to boost foreign investors’ participation.

As one of the most widely followed benchmarks for emerging market debt, the index inclusion is expected to draw more than US$20 billion of stable foreign inflows into India’s sovereign debt market, which could lower borrowing costs, support economic growth, and strengthen the Indian rupee.

As one of the largest in Asia with over US$2.3 trillion of total outstanding, it is expected to play an important role to support the country’s ambitious infrastructure build out. India’s bond market will account for 17% of the total emerging market bond issuance in 2024, up from 13% in 2020.

In addition, with investors’ interest accelerating, it also is likely to boost the types of issuers and instruments that will become available in the coming years especially as the government and the central bank introduce reforms to improve market access, liquidity and transparency.

The expansion of India’s capital market is a positive development for the fastest growing industry segments such as services exports, healthcare, IT, real estate, FMCG, and renewable energy.

These sectors are also set to add to India’s sustainable bond market, a rapidly growing segment of the country’s capital market offering investors an opportunity to finance projects that have positive environmental and social impacts. According to a report by Climate Bonds Initiative, India ranked third in the world in terms of sustainable bond issuance in 2020, with a total of $26.6 billion. The Indian government has been supportive of the development of the sustainable bond market, by providing policy incentives, regulatory frameworks, and market infrastructure.

From the government’s fiscal stimulus to the central bank’s accommodative monetary policy there are high expectations for the country’s fixed income market. However, there are also some challenges and risks that could affect the bond market performance, such as inflation, interest rates, fiscal deficit, and uncertain global market conditions.

Amid this fascinating backdrop, The Asset is pleased be hosting the inaugural Asia Bond Markets Summit, India edition focusing on India’s fixed income market, examining the opportunities and challenges in the year ahead. The Summit brings together the issuers, investors, and policymakers to discuss the most pressing concerns affecting the market, while also uncovering where the opportunities investors are entering.

Agenda
18 July 2024
01:30 PM
Registration and coffee
02:40 PM
Keynote address
Shri Ashwani Bhatia
Shri Ashwani Bhatia
whole time member
Securities and Exchange Board of India
03:00 PM
Panel one: India’s next chapter

India has emerged as an important player in the global stage. The country is on track to become the world’s third largest economy. It has taken a leadership role in the fight against climate change and global digital revolution. Its financial markets are thriving, particularly its fixed income sector which provides vital avenues for fundraising and investing. Indian bonds’ inclusion into global indices also marks the beginning of a new era and could boost foreign investor participation and make the case for a stronger rupee.

  • How will India’s economy evolve in the next 12 months?
  • How does increased digitization of financial services transforming the economy?
  • What will the democratization of India’s capital markets mean for global investors?
  • What will the index inclusion mean for domestic borrowers and investors?
Anupam Misra
Anupam Misra
head of group corporate finance
Adani Group
Radhika Gupta
Radhika Gupta
managing director & CEO
Edelweiss Asset Management
Vineet Gupta
Vineet Gupta
vice president & head of relationship management for South Asia
Moody’s Ratings
Bikash Jhawar
Bikash Jhawar
senior partner and head of the banking, insolvency and restructuring practice
Saraf and Partners
Nipa Sheth
Nipa Sheth
founder & director
Trust Group
Dhruv Sharma
Dhruv Sharma
senior country economist
World Bank
Tim Richardson (moderator)
Tim Richardson (moderator)
publisher
The Asset
03:50 PM
Plenary keynote address
Jugeshinder Singh
Jugeshinder Singh
group CFO
Adani Group
04:00 PM
Networking break
04:30 PM
Afternoon address
Mohit Saraf
Mohit Saraf
founder & managing partner
Saraf and Partners
04:40 PM
Panel two: Investing in a net zero future

India's commitment to a net zero future is in full swing. The government has recently announced plans to increase green energy capacity to harness the country’s natural resources. Infrastructure, a crucial component to India’s decarbonization journey, is getting a boost with landmark projects being launched across the country. This transition is creating significant opportunities for global investors to underpin their sustainable investing agenda

  • What are the most pressing challenges for project sponsors and how do they address these issues?
  • What regulatory measures have been launched to increase private capital participation?
  • How will the country’s carbon markets play out in the next 12 months?
  • How can innovative financing tools accelerate energy transition?
Phuntsok Wangyal
Phuntsok Wangyal
chief financial officer
Adani Green Energy Limited
Saurabh Bansal
Saurabh Bansal
head of capital structuring
Cube Highways Trust
Neha Nagpal Grover
Neha Nagpal Grover
operations officer
International Finance Corporation
Augusto King
Augusto King
managing director and co-head of debt capital markets
MUFG
K Mukundan
K Mukundan
senior principal, strategic initiatives and policy advisory
National Investment and Infrastructure Fund
Chito Santiago (moderator)
Chito Santiago (moderator)
executive editor
The Asset
05:30 PM
Networking and cocktails
Thank you.
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