Mumbai: India is in advanced stage of discussion for an inclusion in major bond indices and an entry should happen in the next few months, RBI Governor Shaktikanta Das said Friday.
Das said both RBI as well as the government are speaking with major index providers globally for such an entry.
It can be noted that being a part of global bond indices can help attract larger foreign investor flows into the country, especially the passive fixed income funds which track such indices.
“The whole matter is in very advance stage of discussion with the major index providers. Both the Reserve Bank and the government we are in constant dialogue with the index providers,” Das told reporters at the customary post-policy conference.
He said there are a few issues which are getting resolved, pointing out that the indices have certain set of expectations and added that the government is in discussion with Euroclear.
“Timeline is very difficult for us to give because we are not deciding, somebody else is deciding. They are deciding. But it is in a very advanced stage but I think should happen may be in the next few months,” Das added.
In a report recently, foreign brokerage Morgan Stanley had
Said that India can attract funds of up to $250 billion over the next decade if the aspiration of the inclusion in global indices comes true.
PTI