 "FPIs")
Foreign portfolio investments in the domestic debt market hit a 27-month high in November on the back of the announcement of India’s inclusion in JP Morgan’s widely tracked Government Bond Index-Emerging Markets (GBI-EM) from June next year.
FPI inflows in debt stood at Rs 12,399 crore as on November 26, against Rs 6,382 crore in October, according to data from the National Securities Depository Limited (NSDL).
“The reason is bond inclusion,” explained Vikas Goel, managing director and CEO at PNB Gilts. “Speculative flows have started. Aggressive buys have started now, but serious flows or larger amounts will start in the
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