JPMorgan will include India in its widely tracked emerging market debt index

This is triggering a huge flow of funds into the Indian economy (the world's 5th largest)

Reuters carry the news on JPMorgan announcing on Friday that it will include India in its widely tracked emerging market debt index.

India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds according to JPMorgan.
JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion are eligible.
"India's weight is expected to reach the maximum weight threshold of 10% in the GBI-EM Global Diversified (.JPMGBIEMGD), and approximately 8.7% in the GBI-EM Global index," said JPMorgan.