JP Morgan to add Indian government bonds to emerging markets debt index

JP Morgan is set to add Indian government bonds to its widely-tracked emerging markets debt index, paving the way for billions of inflows to the world's fifth-largest economy.  The JPMorgan Government Bond Index-Emerging Markets (GBI-EM) benchmarks will include Indian government bonds from 28 June 2024, the firm said, with a maximum weight to India of 10% of the index. The bank said 23 Indian Government Bonds (IGBs) with a combined notional value of $330bn, all of which fall under the "fully accessible route" for non-residents, are eligible for inclusion. India's long-term plans ar...