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Bloomberg to Add India to EM Bond Indexes From January 2025

INDIA
  • Bloomberg Index Services Ltd. will add India’s Fully Accessible Route, or FAR, bonds in its emerging market local currency index, according to a statement Tuesday. The inclusion in the Bloomberg EM Local Currency Indices will take place over a 10-month period starting from Jan 31 2025.
  • Securities will have an initial weight of 10% of their full market value and must have a minimum outstanding of INR10bln. “On each subsequent month end, the scaling factor will be increased in 10% increments until the scaling factor reaches 100% in November 2025,” the statement said.
  • As a reminder, JPMorgan will include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) from June 2024. JPMorgan said Indian bonds will eventually hold a weight of 10% in its index, following 1% additions to its weightage each month from June.

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