This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ8L03Q_L.jpg
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, JPMorgan said earlier in the day.
Inclusion will start on June 28, 2024, and extend over 10 months, with 1% increments on its index weighting, as India is expected to reach the maximum weighting of 10%, it added.
“It is a welcome development and shows confidence in the economy,” Seth told reporters.
A government official who declined to be named said the inclusion happened without providing any tax incentives as was requested.
