Bloomberg to support India access global bond indexes, attract more foreign investments

New York: Bloomberg will help India navigate the process for gaining inclusion in global bond indexes so that the country could attract more global investments, its CEO Michael Bloomberg announced on Wednesday.

The move will enable international investments to access India's bond market. Further, Michael Bloomberg said he will help support the development of the international financial services sector at the Gujarat International Finance Tec-City (GIFT).

"Bloomberg will help India navigate the process for gaining inclusion in global market benchmark indices so that the international investments can access India's bond market. That will help Indian businesses raise funds to invest and grow and it will help the Indian government raise funding for infrastructure and public services," the CEO said at the Bloomberg Global Business Forum.

"Second, Bloomberg will support the development of the international financial services sector at Gujarat international finance tech city also known as GIFT," he added.

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The CEO announced that Bloomberg will hold a series of roundtables in "India, Asia and beyond" with investors from across the world to highlight opportunities for governments and business alike with an aim to bring new investments to the GIFT city.

"GIFT City was envisioned by Prime Minister Modi as a 21st century digital connected international financial sector, an engine for new jobs. To help realise this vision, Bloomberg will a hold a series of roundtables in India, Asia, and beyond with investors from across the world and will highlight opportunities for governments and businesses to work together and to bring new investment to gift city," he said.

The announcement came following after Modi met Michael R Bloomberg ahead of his address at the Bloomberg Global Business Forum on Wednesday.

Bloomberg is one of the founders, CEO, and owner of Bloomberg LP, global financial services, software, and mass media company that bears his name. He served as the 108th Mayor of New York City, holding office for three consecutive terms.

After the Bloomberg summit, Prime Minister Modi will take part in an investment round table which will see the participation of more than 40 major US companies.