India plans to issue international bonds worth $ 10 billion in October

India plans to sell $ 10 billion of bonds at a time when it first sells bonds abroad in October, according to informed sources. "The big problem is being discussed, with a huge appetite in the markets, for lower interest rates," the Bloomberg news agency said. Sources, who asked not to be named, the plan still being consulted, indicated that the option of issuing was also envisaged in two installments. Finance Minister Nirmala Seetharaman unveiled the plan for selling bonds abroad as part of her review of the country's public budget, amid limited options for raising funds to boost infrastructure spending. In the same fiscal plan, the minister was seeking to bring the current year 's budget deficit target to 3.3% of GDP, compared to 3.4% in the past.

The government favors international bonds denominated in yen and yen because of falling interest rates, but the dollar remains an option as it is more liquid.

Al Masar said the maturity of the bonds could be 10 years or more.