RBI Measures
Bloomberg adds 3 gilts to emerging market index after RBI adds them to FAR
This story was originally published at 22:17 IST on 9 June 2026
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MUMBAI – Bloomberg Fixed Income Indices Tuesday added three Indian government bonds to its Emerging Market Local Currency Government Index and other eligible indices after the Reserve Bank of India Friday amended the regulatory framework to add the three existing bonds as "specified securities" to the Fully Accessible Route, one of the channels for foreign portfolio investors to purchase gilts without restrictions, the index services provider said in a technical note. The three bonds are the 6.68%, 2040 gilt; the 7.24%, 2055 gilt; and the 7.71%, 2066 bond. The addition is effective Tuesday.
The 6.68%, 2040 bond will hold 0.26% market value weight in the Emerging Market Local Currency Government Index while the 7.24%, 2055 and the 7.71%, 2066 gilts will hold 0.11% and 0.01% weight, respectively, according to the note. The 2040 bond will hold weight of 4.15% in the Indian Government FAR Bond Index while the 2055 bond will hold 1.84% weight and the 2066 gilt 0.22%.
India has been part of Bloomberg's Emerging Market Local Currency Government Index since January 2025, and its inclusion was phased over the course of 10 months. In January 2026, Bloomberg deferred the inclusion of India's sovereign Fully-Accessible-Route bonds in its flagship Global Aggregate Index and said it plans to provide the next update by mid-2026.
A finance ministry official Tuesday said the RBI and the Centre's coordinated efforts Friday to incentivise foreign portfolio investment, especially in gilts, were intended to secure India's inclusion in the $3-trillion flagship index. Market participants estimate a potential inflow of between $20 billion and $25 billion over the course of about a year if the inclusion happens. End
US$1 = INR 95.35
Reported by Cassandra Carvalho
Edited by Rajeev Pai
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