India to Lift Foreign Investment Cap on Some Sovereign Bonds
- Government plans fresh debt with no cap on foreign investment
- Step is part of measures to seek inclusion in global indexes
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India will remove foreign investment limits on some sovereign notes as part of its attempts to get inclusion in global bond indexes, the country’s chief economic adviser said.
Issuing new debt with no limits on investments by foreigners will be the first “necessary step” for the inclusion in the indexes, Krishnamurthy Subramanian, the economic adviser, said in an interview in New Delhi on Monday. The country’s administration aims to fulfill other conditions for the inclusion in the fiscal year beginning April 1, the adviser said.