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MUMBAI, Sept 22 - Passive inflows into Indian bonds could rise to as much as $50 billion over the next 12 months if other foreign indexes add the country's debt to their benchmarks, a top treasury official at ICICI Bank told Reuters on Friday.
Besides JPMorgan, FTSE Russell and Bloomberg Barclays also have emerging bond indices that could consider including India. The government is targeting a fiscal deficit of 5.9% of GDP this financial year and will borrow 11.8 trillion rupees on a net basis. The 10-year benchmark 7.18% 2033 bond yield dropped seven basis points to 7.07% in early trades on Friday. It was last at 7.12%.
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