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India will reach the maximum 10% weighting in the gauge, making it crucial for funds tracking the index to add the nation’s debt to their portfolios. The inclusion also brings business for banks and money managers as they position for inflows of as much as $40 billion. HSBC is also leveraging its foreign portfolio investor license in GIFT City — a free market oasis aimed to take on Singapore and Dubai — to offer total return swaps to investors who want India exposure without necessarily having to set up shop. The instrument gives overseas investors the same payoff they would get by owning local securities without having to open a domestic account or deal with local investing regulations.
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