MSCI to Add Paytm, Apollo Hospitals, and Two Others to Flagship Global Indexes

MSCI announced that it will include four India-listed companies—Paytm, Apollo Hospitals, Trent Ltd, and Bharat Forge—in its Global Standard Indexes, effective November 24, 2025. The move is projected to draw roughly US $1.46 billion in passive investment inflows into India’s equity markets, according to analysts tracking index-based fund flows.

The inclusion marks another milestone in India’s growing integration into global capital markets. With the country’s equity benchmarks consistently outperforming major global peers this year, institutional investors have shown strong interest in large-cap names with robust earnings visibility and liquidity. Paytm’s addition, in particular, signals renewed investor confidence in India’s digital-finance ecosystem after years of scrutiny over profitability and regulation.

For Apollo Hospitals and Trent, the MSCI inclusion underscores the global appeal of India’s healthcare and consumer sectors, both of which continue to benefit from demographic tailwinds and rising disposable incomes. Bharat Forge’s addition, meanwhile, reflects the growing international focus on India’s defense and manufacturing push.

Market strategists note that the move could further strengthen foreign portfolio inflows into Indian equities, particularly from ETFs and passive global funds benchmarked to MSCI’s indexes. With India already set to join J.P. Morgan’s Government Bond Index next year, these inclusions reinforce the narrative of India’s gradual elevation to a core allocation in global emerging-market portfolios.