India Seeks Higher Weighting in MSCI Equity Indexes, Report Says
- Team led by Modi’s economic adviser in discussions with MSCI
- Disparity in weights of China, India equities is main concern
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India thinks its stocks aren’t fairly represented in several MSCI gauges that are closely tracked by investors around the world. The nation is seeking a review, The Economic Times reported Monday.
A team led by Prime Minister Narendra Modi’s principal economic adviser Sanjeev Sanyal is in discussions with MSCI Inc. since February to push for higher benchmark weighting for Indian stocks, the report said, citing people it didn’t identify.
The concern is mainly about the disparity in the MSCI Emerging Markets Index’s allocation to Chinese and Indian stocks, the report said. China constitutes more than 30 percent of the gauge, while India forms nearly 10 percent, according to the MSCI website.