The article examines the corporate bond markets in India, focusing on their current state and future challenges. It looks at how macro-economic factors and institutional factors impact these markets. The study also delves into investor sentiment and its influence on corporate bond market participation. Additionally, the research determines the premium of corporate bonds using idiosyncratic and liquidity factors. Key findings include a lack of research on the impact of macro factors on corporate bond markets, limited studies on investor sentiment in this context, and a need for more research on financial integration of corporate bond markets in India.