India gets green light to join JPMorgan bond index; rupee, bonds gain

By: Admin

NEW DELHI, Sept 22 (Reuters) - JPMorgan (JPM.N) will include India in its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world's fifth-largest economy and helping it finance its current account and fiscal deficits.

India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds, JPMorgan said on Friday.