FTSE Russell has placed Indian government bonds on the watchlist for a potential upgrade to Market Accessibility Level ‘1’ and for consideration for inclusion in the FTSE Emerging Markets Government Bond Index (EMGBI).
India will be reassessed again in March 2023.
The index provider said it continues to engage with its index users and Indian market authorities regarding ongoing market structure reforms, with a focus on securities that are available via the Fully Accessible Route channel.
Dialogue between FTSE and the Reserve Bank of India will continue, it said, acknowledging the “ongoing commitment to the evolution of the market by local policy makers".
Markets will now look forward to the monetary policy committee outcome today and an index review by JPMorgan Chase in the coming days.
The latest development comes days after India's inclusion in JPMorgan's emerging market global index was delayed due to operational issues.
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