Bloomberg defers Indian bonds inclusion in Global Aggregate Index

Bonds

• Bloomberg defers adding Indian govt bonds to its Global Aggregate Index
• Review of Indian bonds for index inclusion remains open and ongoing
• Bond yield rose 5 basis points to 6.63% after the announcement

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Bloomberg Index Services Ltd (BISL) on January 13 have deferred the inclusion of Indian government securities in the Bloomberg Global Aggregate Index citing the need for further evaluation of operational and market infrastructure aspects.

However, BISL kept the review of Indian government bonds for the Bloomberg Global Aggregate Index open and ongoing, while continuing to engage with index users, market participants, custodians, regulators, and relevant authorities to better understand further efficiencies that could be made in market infrastructure and post-trade processes, statement said.

The statement added that overall responses indicated broad support for the long-term trajectory of the Indian government bond market and for its potential eventual inclusion in global investment grade benchmarks.

“Respondents acknowledged the significant progress made in recent years, including improvements in market accessibility and the implementation of the Fully Accessible Route (FAR), which has removed key capital controls and enhanced investability for international investors,” BISL said in a statement.

India's 10-year benchmark bond yield jumped 5 basis points to 6.63% after the news.

On November 18, 2025, Moneycontrol reported that Foreign portfolio investors (FPIs), the ones that are part of Bloomberg Index Services Ltd (BISL) have reportedly given an encouraging response to the index provider's queries, paving the way for the proposed inclusion of Indian government securities in the Bloomberg Global Aggregate Index.

At the same time, a number of respondents highlighted important operational and market-infrastructure considerations that merit further evaluation before inclusion in a flagship global investment grade index. These considerations include, among others, the current lack of fully automated trading workflows, settlement and repatriation timelines associated with post-trade tax processes, and the complexity and duration of fund registration procedures, the statement said.