Foreign individuals may buy corp debt: report

NEW DELHI: India is considering allowing individual foreign investors to directly buy corporate debt, the Economic Times reported, quoting finance ministry officials.

The business daily said on Friday that Finance Minister Pranab Mukherjee would take a final decision on whether to include the proposal in the 2012/13 federal budget, which will be presented in parliament on March 16.

Ministry official were not immediately available to comment. India currently allows foreign institutional investors to buy a total of $45 billion of corporate debt. Of this, $25 billion is allocated for infrastructure bonds.