JPMorgan's announcement on September 22 that Indian government bonds will be a part of its Government Bond Index-Emerging Markets (GBI-EM) global index suite from June 2024 has set off anticipation that foreign investors will pump in billions of dollars into India to buy its sovereign debt. Take a look at five key implications of the huge influx of foreign capital expected into the Indian sovereign debt market following JPMorgan's decision:
Quantum mechanics
Economists have pegged the quantum of inflows following this development at $24 billion. The inclusion will happen in 10 monthly increments of 1 percentage point each, starting June 28, 2024. As such, the funds will flow in over a period of 10 months and not in one go.
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