India does not need to scrap its debt limits for foreign intuitional investors (FIIs) in order to be included in global bond indexes, news agency Cogencis reported quoting an unnamed government source, according to ET Now television channel.
Officials from the finance ministry, Reserve Bank of India and Securities and Exchange Board of India will meet on Dec 6 to discuss how be included in these global bond indexes, Cogencis also reported, according to ET Now.
India is in discussions with global bond index compilers such as J.P.Morgan and Barclays to list the country's debt in their emerging market indexes.
Analysts say a key requirement imposed by these index compilers may be removing the limits on foreign investment in Indian debt.
Currently the total foreign investment limit is $81 billion in Indian debt.