People familiar with the matter said South Korea's National Pension Service
(NPS) is seeking permission to invest in Indian government bonds via a
low-compliance channel set up by the Securities and Exchange Board of India
(SEBI). India has been simplifying registration, cutting taxes and pushing for
inclusion in global bond indices to attract foreign capital into its
sovereign-debt market. NPS, the world's third-largest pension fund managing over
$1.3 tln, would be among the first applicants under SEBI's window for foreign
investors restricted to government securities; the application would establish a
dedicated vehicle to scale sovereign allocations to India.
