An advisory committee at Bloomberg Index Services Ltd has recommended inclusion of Indian government bonds in the Bloomberg Emerging Market Local Currency Index and a formal announcement of this is likely in the coming days, people aware of the development said.
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The inclusion of Indian government bonds in global indices adds to their global acceptability and makes it more attractive for foreign investors to buy them.
"Following client feedback received during the Bloomberg 2023 Fixed Income Index Advisory Councils, Bloomberg Index Services is launching a consultation to solicit feedback on the proposed inclusion of the India fully accessible route bonds in Bloomberg Emerging Market (EM) Local Currency Index," a document accessed by ET read.
Government of India bonds are likely to get a further boost with global financial advisory firm Bloomberg, proposing their inclusion in its index, a development that comes close on the heels of JPMorgan’s decision to include these bonds in its global