In a statement, BISL said feedback received so far from market participants has been largely positive. However, it noted that certain operational and market infrastructure considerations still merit closer examination before a final decision is taken.
“As part of this process, BISL intends to keep the review of Indian government bonds for the Bloomberg Global Aggregate Index open and ongoing,” the index provider said, adding that engagement with index users, market participants, custodians, regulators and relevant government authorities will continue.
BISL said it is seeking to better understand where further efficiencies can be made in market infrastructure and post-trade processes, which remain key areas of focus in the review.
The index provider said it plans to issue a further update on the review by mid-year 2026, at which point it will communicate the next steps regarding the potential inclusion of Indian government bonds in the index.
The Bloomberg Global Aggregate Index is closely tracked by global investors, and any inclusion of Indian government bonds could lead to significant capital inflows into the domestic debt market.