India's Bloomberg Bet Is Really a Rupee Story
There are reforms that announce themselves with drumbeats, and there are reforms that slip in quietly, carrying the weight of history without demanding applause. India's decision to place its government securities on the Bloomberg Terminal belongs to the second category. At first glance, it is merely a trading platform. Another piece of financial software. Hardly the sort of thing that stirs patriotic emotion or dominates television debates. But history has a habit of hiding behind mundane events. The Bloomberg Terminal is not just a computer screen. It is where the world's money goes shopping. Every day, pension funds in Canada, sovereign wealth funds in the Gulf, insurers in Europe and asset managers in New York make decisions worth billions of dollars using this platform. Until now, Indian government bonds were available, but not easily accessible. India had built the house; Bloomberg has now put it on the global map. The significance lies not in the technology but in the jo...
