India's Financial Resurgence: S&P Global Upgrades Sovereign Rating
S&P Global Ratings has elevated India's sovereign rating to 'BBB', reflecting robust economic growth and a stable monetary policy. It's the first agency to raise India's rating from the lowest investment grade. The upgrade underscores India's fiscal consolidation efforts, domestic consumption strength, and manageable impact from US tariffs.
- Country:
- India
In a significant financial development, S&P Global Ratings elevated India's sovereign credit rating, citing the nation's strong economic growth and improved monetary policy framework.
This marks the first upgrade by a major agency from the lowest investment grade of 'BBB-'. The decision reflects India's commitment to fiscal consolidation and sustainable public finances.
The US-based firm highlighted India's resilience to potential economic downturns due to US tariffs, attributing this to a relatively low trade reliance and robust domestic consumption.
(With inputs from agencies.)
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