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India's inclusion in global bond indices has been delayed primarily due to smaller asset managers' and funds' reluctance to register themselves locally as foreign portfolio investors (FPI), reported The Economic Times.
According to the people in the know, unlike global financial heavyweights familiar with India's capital markets and regulatory environment, these independent entities think the costs of complying with regulations may outweigh the benefits. Before they come to India, they are required to register as an FPI, which takes three to six months. One of the experts said to ET that those smaller index constituents are not willing to back
