Global funds are snapping up India’s sovereign bonds ahead of the country’s addition to global debt indexes, and traders expect them to be a key pillar of demand for the near-record government borrowing in the coming fiscal year.

New Delhi will likely announce a gross borrowing of 15.2 trillion rupees ($183 billion) for the year starting April 1, marginally lower than the record 15.43 trillion rupees set for the current year, according to a median estimate in a Bloomberg poll of 21 economists.