Is India ready to enter global bond indices?

Even though we may have won the battle with the current account deficit, there is palpable excitement around the possibility of India's inclusion in a global sovereign bond index. In a post-conference policy call, the Reserve Bank of India set the cat among the pigeons by highlighting the costs that are typically associated with such an entry. The basic premise is that India's inclusion in a global bond index will facilitate more stable investment flows from pension funds and life insurances. 

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