India local government bonds added to key JPMorgan index, to trigger billions in inflows

JPMorgan will include India in its emerging market debt index, potentially attracting billions of dollars into the Indian economy. India’s government bonds, valued at $330 billion, will be incorporated into the index starting June 28, 2024, in 1% increments until reaching a maximum weight of 10%. This decision follows India’s efforts to enter global bond indexes by removing foreign investment restrictions in 2020.