India to be included in JP Morgan's emerging market debt index

New Delhi, Sep 22 (IANS) JP Morgan has said that it will include India in its Government Bond Index-Emerging Markets (GBI-EM) index from June 2024 onwards.

This will help in increasing inflows into the world's fifth-largest economy.

It will also mean that local government bonds will be included in the GBI-EM index and the index suite, which is benchmarked by approximately $236 billion in global funds, as per JP Morgan.

"India's weight is expected to reach the maximum weight threshold of 10 per cent in the GBI-EM Global Diversified, and approximately 8.7 per cent in the GBI-EM Global index," said JP Morgan.

This index is followed by global funds, with approximately $236 billion in assets benchmarked against it.