Mumbai: FTSE Russell has said India will remain on its consideration watch list for inclusion in the FTSE Emerging Markets Government Bond Index, with managers of the investing benchmark citing criteria the domestic debt market does not yet satisfy for inclusion in the gauge.
“There are criteria for a Market Accessibility Level of 1 the market does not satisfy, including the documentary requirements to fulfil the Foreign Portfolio Investor (FPI) registration, increased regulatory reporting, the inflexible length of the settlement cycle and the tax clearance process,” an FTSE note read.
India remains on the FTSE Fixed Income Country Classification Watch List for the potential reclassification of its Market Accessibility Level from 0 to 1, and consideration for inclusion in the FTSE Emerging Markets Government Bond Index, the index manager said.
In March 2021, India was added to FTSE’s country classification watch list. The step had been…
