JPMorgan Chase & Co. will add Indian government bonds to its benchmark emerging-market index, a keenly awaited event that could drive billions of foreign inflows to the nation’s debt market.
The index provider will add the securities to the JPMorgan Government Bond Index-Emerging Markets starting June 28, 2024. The South Asian nation will have a maximum weight of 10% on the index, according to a statement Thursday.
Expectations that India may be added to international gauges had been rising in recent months as providers look to diversify index constituents. Russia’s invasion of Ukraine had seen it drop off indexes, while China’s worsening economic woes have taken the shine off the country’s sovereign debt. Authorities in India have been largely uncompromising in making changes to tax policies that would make it easier for the securities to be added to global indexes. Korea, another large emerging market, signed an agreement to open an omnibus account with Euroclear Bank SA, facilitating foreigners’ access.
Foreigners have raised their holdings of such bonds to almost $12 billion, from $7.4 billion at end of 2022, in anticipation of the inclusion, according to Clearing Corp. of India data.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trudeau seeks India's help on probe of B.C. killing, India says Canada gave no infoOTTAWA — Prime Minister Justin Trudeau is calling for India's help to investigate the killing of a Sikh independence activist on Canadian soil, while New Delhi says Canada has provided no information on the case.
Read more »
Trudeau seeks India's help on probe of B.C. killing, India says Canada gave no infoOTTAWA — Prime Minister Justin Trudeau is calling for India's help to investigate the killing of a Sikh independence activist on Canadian soil, while New Delhi says Canada has provided no information on the case.
Read more »
Trudeau seeks India's help on probe of B.C. killing, India says Canada gave no infoPrime Minister Justin Trudeau is calling for India's help to investigate the killing of a Sikh independence activist on Canadian soil, while New Delhi says Canada has provided no information on the case.
Read more »
Trudeau seeks India's help on probe of B.C. killing, India says Canada gave no infoOTTAWA — Prime Minister Justin Trudeau is calling for India's help to investigate the killing of a Sikh independence activist on Canadian soil, while New Delhi says Canada has provided no information on the case.
Read more »
Trudeau seeks India's help on probe of B.C. killing, India says Canada gave no infoOTTAWA — Prime Minister Justin Trudeau is calling for India's help to investigate the killing of a Sikh independence activist on Canadian soil, while New Delhi says Canada has provided no information on the case.
Read more »
Trudeau seeks India’s help on probe of B.C. killing, India says Canada gave no infoPrime Minister Justin Trudeau is calling for India’s help to investigate the killing of a Sikh independence activist on Canadian soil.
Read more »