FTSE Russell Puts India Under Watchlist For Govt Bond Index, Reassessment in March

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FTSE Russell Puts India Under Watchlist For Govt Bond Index, Reassessment in March
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The leading global index provider and a subsidiary of the London Stock Exchange Group (LON: LSEG ), FTSE Russell has put India under its watchlist for inclusion in the FTSE Emerging Markets Government Bond Index and will consider the country for a potential upgrade to Market Accessibility Level 1.

The index provider would assess India in March 2023 again. Placing India under the watch list for a possible upgrade to Market Accessibility Level 1 will indicate improved ease of foreign access to local markets.

The global index provider stated that feedback from global index users continued to demonstrate an interest in Indian government securities issued via the Fully Accessible Route (FAR), introduced in 2020.

It removed foreign ownership restrictions for newly issuing Indian local currency fixed-rate government securities at the 5-, 10-, and 30-year tenors.

“FTSE Russell will continue its constructive dialogue with the Reserve Bank of India (RBI) and acknowledge the ongoing commitment to the evolution of the market by local policymakers,” the index provider added.

At its annual country classification review, FTSE Russell said that it continued engaging with its index users and Indian market authorities on current market structure reforms, focusing on securities available through the FAR channel.

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