Reits to be gradually included in market indices, says Sebi chief

India's market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices, says Sebi chief

- BS REPORTER

India’s market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices in a phased manner, Sebi chief Tuhin Kanta Pandey said, while asserting that the regulator was working to strengthen the link between infrastructure building and the markets.

“Sebi will work with all stakeholders to facilitate the inclusion of Reits in indices, through an appropriate glide path,” Pandey said at the National Conclave on Reits and Invits in New Delhi on Friday. The Securities and Exchange Board of India (Sebi) chairman also said that the National Monetisation Pipeline’s next tranche will be ₹10 trillion over five years, higher than the ₹6 trillion outlined for monetisation in the first five-year tranche. “We are coordinating with the Ministry of Finance and several state governments to accelerate public-asset monetisation.

We are working with the Insurance Regulatory and Development Authority of India (Irdai), Pension Fund Regulatory and Development Authority (PFRDA), and Employees’ Provident Fund Organisation (EPFO), to facilitate greater participation from their entities under their purview,” Pandey said.

The Sebi chief also said that a move was afoot to expand the pool of liquid mutual fund schemes, which would also help Reits and infrastructure investment trusts (Invits).