JP Morgan yesterday announed that India is going to be now part of it’s Government Bond Index-Emerging Markets (GBI-EM) index. This could bring in around $20 billion in investments. This inclusion will start on June 28, 2024, and will happen over 10 months. The index weight for India will increase by 1% each month until it reaches a maximum of 10%, according to JP Morgan. About twenty Indian government bonds, worth a total of $330 billion, will be eligible for this index.
These developments are promising for Indian financial markets, and they could also help strengthen the Indian rupee and increase investments from various sources.
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Once the listing begins you will be able to check the weightages of the bonds here: Indices Composition