India will get into global bond indices on own terms: FinMin official

India will not bend over backwards to get included in the global bond indices, a top finance ministry official said on Saturday. Deploying a sartorial analogy, Finance Secretary TV Somanathan said the indices are an exclusive club or gymkhana, which insists on entry only for those wearing ties. "...if we get into this club, it will be with our dhoti and saree. We will not change our domestic policies to suit foreign investors," he said, addressing a post-budget interaction with industry players in the financial capital. He said there are both positives and negatives of such an inclusion, which was spoken about in a previous budget announcement, and India will not "bend over backwards" to gain entry. India's policies will be based on domestic requirements, and there will not be any change to the stance to suit the fancy of global bond investors, he said. The global indices should allow entry for India only if such a stance is acceptable to them, he said. Positives of gaining entry

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