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Informist, Tuesday, Jan. 13, 2026

 

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--Bloomberg Index Svcs:Continue to review India FAR bonds on Global Aggregate 
--Bloomberg Index Svcs:Next update on India bonds in Global Aggregate mid-'26 
--Bloomberg Index Svcs: Still engaging with index users on India inclusion 
--Bloomberg Index Svcs: Respondents noted operational, mkt infra hurdles 
--Bloomberg Index Svcs: Still engaging with regulators on India inclusion 
--Bloomberg Index Svcs:India inclusion in global benchmarks got broad support

 

MUMBAI – Bloomberg Index Services Ltd. Tuesday said it aims to keep the review of India's fully accessible route government bonds for inclusion in its flagship Global Aggregate Index "open and ongoing", and plans to provide the next update on the potential inclusion by mid-2026. The index services provider will continue to engage with index users, market participants, regulators and other entities to seek clarity on "further efficiencies" which could be implemented in market infrastructure and post-trade processes, it said.  

 

The index services provider said it received "broad support" from market participants on the "potential eventual inclusion" of the Indian government bond market in global investment grade benchmarks, and for its long-term course of direction. Respondents said significant progress has been made in recent years, such as better market accessibility and the implementation of the Fully Accessible Route, which removed key capital controls, Bloomberg Index Services said.

 

Meanwhile, the index services provider also received feedback on matters relating to operations and market-infrastructure that required evaluation before inclusion in the global investment grade index, it said. The lack of fully automated trading workflows, complex and long procedures for fund registrations, and settlement and repatriation timelines of post-trade tax proceedings were some issues raised, it said. 

 

Bloomberg Index Services noted that such operational requirements were familiar to those investing in emerging markets, which deemed the Indian bond market acceptable for inclusion in emerging market indices, but some respondents said that the investor base in the Global Aggregate Index was notably broader and operationally diverse. India has been part of Bloomberg's Emerging Market Local Currency Indices since January 2025, and its inclusion was phased over the course of 10 months. 

 

Decisions on any future inclusion would be announced much before its implementation, to allow at least one year between the two, the index services provider said. The inclusion may be implemented on a phased basis, in line with previous implementations, to support orderly market adjustment, it said. 

 

In mid-September, Bloomberg Index Services had sought feedback from investors on whether to include India's fully accessible route bonds in its Global Aggregate Index, it had said in a consultation note. Bond market participants were expecting the inclusion to be confirmed this week, after media reports and speculation hinted at a possible inclusion. Foreign portfolio investors have net purchased gilts worth INR 34.15 billion through the fully accessible route so far in 2026, up till Monday, as per data from Clearing Corp. of India. The potential passive inflows into India's debt could total $20 billion to $25 billion, if India's fully accessible route bonds are included in Bloomberg's flagship index for global investment grade debt, according to market participants.  End 

 

US$1 = INR 90.26

 

Reported by Cassandra Carvalho

Edited by Deepshikha Bhardwaj

 

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