New Delhi, Jan 8 : Bloomberg Index Services Ltd (BISL) is launching a consultation to solicit feedback on the proposed inclusion of the India Fully Accessible Route (FAR) bonds in the Bloomberg Emerging Market (EM) Local Currency Index. Under the proposal, inclusion of India FAR bonds in the Bloomberg EM Local Currency Indices is to be phased in over a 5-month period starting in September 2024. As a result, the Indian FAR bonds will be included in the EM Local Currency indices with an initial weight of 20 per cent of their full market value in September 2024. The weight of FAR bonds will be increased in increments of 20 per cent of their full market value every month over the 5-month period ending in January 2025, at which point they will be weighted at their full market value (100 per cent) in the indices. 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, 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. Using data as of November 30, 2023, the index would include 32 Indian securities and represent 6.99 per cent of a $5.96 trillion index. /IANS