New Delhi, Aug. 13 -- Once a niche segment reserved for institutions and government borrowers, India's bond market is undergoing a significant revolution. Backed by a surge in private sector issuances and a growing appetite among retail investors, the Indian bond market is now expanding at a pace that's hard to ignore.

According to data from the Jiraaf Bond Analyser, India's debt capital market has grown at a compound annual growth rate (CAGR) of 25% over the last decade.

As interest in non-equity assets grows amid market volatility and rate cycle shifts, understanding how the bond market works - and where it's headed - is more crucial than ever.

Bonds are financial instruments where you lend money to a government, organisation, or com...