NEW DELHI, Sept. 22 (Xinhua) -- J.P. Morgan said it will include Indian government bonds in its widely tracked emerging market debt index from next year.
India will be included in the GBI-EM (Government Bond Index-Emerging Markets) Global Index suite starting June 28, 2024, according to a statement issued by J.P. Morgan.
"India is expected to reach the maximum weight of 10 percent in the GBI-EM Global Diversified Index (GBI-EM GD). Currently, 23 Indian Government Bonds (IGBs) with a combined notional value of 330 billion U.S. dollars are index eligible," the statement said.
The inclusion of IGBs will be staggered over a 10-month period starting June 28, 2024, through March 31, 2025, with an inclusion of 1 percent weight per month.
The move is expected to drive billions of dollars of foreign inflows into India's economy. ■
