 "Finance Minister Nirmala Sitharaman Photo- Sanjay K.Sharma")
India plans to raise as much as $10 billion from its first overseas sovereign bond because there’s huge appetite for its debt in the foreign market, according to a top finance ministry official.
"It’s a cautious beginning, which we need to make," Economic Affairs Secretary Subhash Garg said in an interview on Saturday. "In terms of risk management I don’t see it exceeding 10-15% of the total borrowing, which makes it roughly about $10 billion."
Sovereign bonds in India rallied on Friday after Finance Minister Nirmala Sitharaman said during her budget speech that the government would borrow in foreign currency to finance
