Hefty taxes restrain HNWI attraction to Indian private debt

India’s budding private debt market is growing in double digits and attracting the attention of high net worth individuals (HNWIs), in large part courtesy of bad debt reforms the country began implementing a year ago, say market experts. But the country's relatively high taxation levels are hindering even more interest and faster market expansion. Private debt is an emerging asset class in India, with assets under management estimated at $3.3 billion at the end of December 2016,…