Sovereign credit rating of India upgraded to BBB+ by R&I Japan

The Japanese credit rating agency, Rating and Investment Information (R&I), on Friday upgraded India’s sovereign credit rating by a notch to BBB+ from ‘BBB’ with a stable outlook backed by the country’s demographic dividend, robust domestic demand, and sound government policies.

- RUCHIKA CHITRAVANSHI

“Despite the uncertainties surrounding the global economic environment, India’s economy can be expected to maintain firm growth, thanks to the economic structures driven by domestic demand and the policies of the administration of Prime Minister Shri Narendra Modi,” R&I said in a press statement.