FPIs exit domestic debt market as US-India yield gap narrows after respite

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FPIs exit domestic debt market as US-India yield gap narrows after respite - Business Standard

Quick Summary:

Foreign investors were net sellers of FAR securities in October and November, driven by lower-than-expected growth in the second quarter of the current financial year.

In September 2023, JP Morgan announced that it would include government papers issued by the RBI under the Fully Accessible Route in its widely tracked GBI-EM index.

FPI investment in FAR securities had doubled, surpassing the Rs 2 trillion mark within nine months of JP Morgan’s announcement to include Indian debt in its index.