In landmark reform for foreign fund, India to open $1 trn govt bond market

India is inching toward a major milestone: opening its $1 trillion government bond market to more international investors, one of the most ambitious attempts to attract foreign inflows since the country liberalized its economy three decades ago.
 

Policy makers have spent months preparing to join global indexes, key benchmarks that increasingly determine how large asset managers allocate their capital. And now, after a series of fits and starts, analysts expect the world’s last big emerging market to finally get the nod this year or early 2023 by providers such as JPMorgan Chase & Co. and FTSE Russell.

Entry into major