"Confidence In India's Potential": Centre On Inclusion In JPMorgan Index

The move sets the stage for billions of dollars of inflows into the world's fifth-largest economy, news agency Reuters said.

Welcoming JPMorgan's decision to include India in its widely-tracked emerging market debt index, the government said it shows confidence in the Indian economy, its potential and growth prospects, and its economic policies. Long-term investors in Indian government bonds will be amply rewarded, just as long-term equity investors in Indian markets have been, a top official said.

The move sets the stage for billions of dollars of inflows into the world's fifth-largest economy, news agency Reuters said.

India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and all the index suite, including select bonds in an investment grade-only index.