Reuters carry the news on JPMorgan announcing on Friday that it will include India in its widely tracked emerging market debt index.
- India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds according to JPMorgan.
- JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion are eligible.
- "India's weight is expected to reach the maximum weight threshold of 10% in the GBI-EM Global Diversified (.JPMGBIEMGD), and approximately 8.7% in the GBI-EM Global index," said JPMorgan.
More detail at the link to Reuters.
