India Inc could raise a cool $100 billion as RBI eases ECB norms

The Reserve Bank of India has eased external commercial borrowing rules, potentially allowing Indian companies to raise up to $100 billion in 2026-27. Key changes include higher per-borrower limits, relaxed end-use permissions, and the removal of pricing restrictions, making overseas funding more accessible and attractive for corporate expansion and acquisitions. “With the per-borrower limit raised to $1 billion, overall borrowing linked to 300% of net worth, removal of the pricing cap and wider end-use permissions, ECB volumes could even double from current levels over the next few years as both borrower and lender pools expand,” said Utsav Johri, partner at JSA Advocates & Solicitors. Read more