NET INVESTMENTS BY foreign portfolio investors in the debt market surged to $14.58 billion in FY 2024, making it the highest net inflow in the past six years as investors turned bullish following announcements to include government securities in global indices.
Over 70% of the inflows have come in the last five months following JP Morgan Chase's announcement in September to add Indian government bonds to its benchmark Global Bond Index Emerging Markets Index.
"Debt market witnessed strong inflows from debt FPIs as investors were buying bonds ahead of index inclusion last quarter.
"We expect momentum to continue in this quarter as investors continue adding prior to index inclusion," Piyush Agarwal, senior managing director, head - corporate and institutional banking (India), Mizuho Bank, told FE.
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