New Delhi, Jan 9 : Government of India bonds are likely to get a further boost with global financial advisory firm Bloomberg, proposing their inclusion in its index, a development that comes close on the heels of JPMorgan's decision to include these bonds in its global index from June 2024. "Following client feedback received during the Bloomberg 2023 Fixed Income Index Advisory Councils, Bloomberg Index Services Limited (BISL) is launching a consultation to solicit feedback on the proposed inclusion of the India Fully Accessible Route bonds in the Bloomberg Emerging Market (EM) Local Currency Index," Bloomberg Index Services Ltd said in a statement on Monday. According to the proposal, Indian government bonds will be incorporated in the Bloomberg index in a phased manner over five months starting from September 2024. Each month will include 20 per cent of the full-market value of the bonds falling under the Fully Accessible Route (FAR) category which does not involve any restrictions on foreign investors. "Once completely phased into the Bloomberg Emerging Market 10 per cent Country Capped Index, India FAR bonds will be fully capped at 10 per cent weight within the index. At that point, the Indian rupee will become the third largest currency component, following the Chinese renminbi and the South Korean won, within the Bloomberg Emerging Market Local Currency Index," Bloomberg Index Services Ltd said in a statement. Bloomberg has in its consultation process has sought the opinion of its customers on whether they agree with the proposal to include eligible Indian bonds in the EM Local Currency Indices and also if they agree with their inclusion over five months starting September 2024. It has fixed a Janaury 25 deadline for the responses. At the same time, Bloomberg has also said that the the survey may result in no changes or outcome. The inclusion of Indian government bonds in global indices adds to their global acceptability and makes it more attractive for foreign investors to buy them. According to financial analysts, the inclusion of Indian government debt to the JP Morgan indices could alone lead to inflows of up to $24 billion. /IANS