India’s export sector stands to benefit as the government pursues inclusion in Bloomberg’s Global Aggregate Bond Index following earlier entries into JPMorgan and FTSE benchmarks, trade officials said.
Bond market liberalization, including zero capital gains and withholding taxes for foreign portfolio investors on government securities, supports macro stability that underpins export competitiveness.
A cheaper rupee and lower sovereign borrowing costs could free fiscal resources for infrastructure that reduces logistics expenses for manufacturers.
Bloomberg had not announced a decision timeline. Indian negotiators said they were providing additional data on market access and settlement systems.
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Sources:
https://www.business-standard.com/economy