JP Morgan to Add Indian Government Bonds to Emerging Market Benchmark

• In a significant development, JP Morgan Chase & Co. is set to include Indian government bonds in its renowned benchmark emerging-market index. This long-anticipated move is expected to attract substantial foreign investments into India’s debt market.
• The inclusion of Indian government bonds in the JP Morgan Government Bond Index-Emerging Markets is scheduled to take effect from June 28, 2024.
• India will have a maximum weight of 10% on this index, as outlined in a statement.
• The move to include India in the index reflects a broader trend among index providers seeking to diversify their index constituents. Factors such as Russia’s invasion of Ukraine and China’s economic challenges have led to shifts in index compositions.
• India was notably the last significant emerging market to be absent from global debt indexes before this inclusion.

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Published date : 23 Sep 2023 07:42PM