India Inc has raised a record $22 billion in 2021 surpassing the 2019 record of $18.5 billion, helped by easy liquidity, benign global interest rates and a surge in bonds issued for ESG-compliant projects. This year also saw a wider set of issuers from diverse sectors such as information technology (IT), telecom towers, renewables, as well as rare additional tier-1 (AT1) bonds from HDFC Bank and Axis Bank.