Goldman Sachs Group Inc. sees India’s inclusion to JPMorgan Chase & Co.’s key emerging market index spurring inflows upwards of $40 billion to the country’s bonds markets over the next 18 months.
This includes passive flows of around $30 billion, and at least another $10 billion of active flows given the country’s attractiveness from a yield and low volatility perspective, analysts including Danny Suwanapruti said.
“The flows will be front-loaded, beginning immediately, as investors pre-position for inclusion next year,” they said, as “several emerging market-dedicated funds are already set up in India.”
India’s addition to the index is a keenly awaited event, pointing to the growing appeal of the country to foreign investors looking to diversify their portfolios. They’ve already bought $3.5 billion of Indian debt so far this year, according to data compiled by Bloomberg.
Last updated: December 26th, 2025
