Wednesday, February 21, 2024

JP Morgan to include India in GBI-EM index, boosting inflows

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Shillong, September 22: Starting from June 2024, JP Morgan has announced its decision to incorporate India into its Government Bond Index-Emerging Markets (GBI-EM) index. This development is expected to facilitate increased investment flows into the world’s fifth-largest economy.

As per IANS, as a result of this inclusion, local government bonds will become part of the GBI-EM index and the index suite, which serves as the benchmark for around $236 billion in global funds, according to JP Morgan.

The financial institution stated, “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,” further emphasizing the significance of this move.

Notably, the GBI-EM index is closely followed by global funds, with approximately $236 billion in assets benchmarked against it.

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