(Bloomberg) -- India’s trillion-dollar sovereign bond market is gearing up for a rush of foreign money after JPMorgan Chase & Co. said it will include the nation’s debt in its emerging market indices.
The South Asian nation is allocated a maximum 10% weight in the main emerging market index, which will be started in a phased manner from June 2024, JPMorgan said in a statement last week. The move will draw upwards of $20 billion of inflows as per various estimates and will help ease supply worries in the bond market as well as provide support to the rupee.
Read: JPM India Index Inclusion to Have ‘Profound Impact’: Street Wrap
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Following are estimates of various local and foreign banks and brokerages on the likely inflows in the coming months:
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