Mumbai, Aug. 14 -- S&P Global Ratings has raised its long-term unsolicited sovereign credit ratings on India to 'BBB' from 'BBB-', and its short-term ratings to 'A-2' from 'A-3'. The outlook on the long-term rating is stable, the agency said. The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations. The sovereign ratings on India are anchored by a dynamic and fast-growing economy, strong external balance sheet, and democratic institutions that support policy predictability. Counterbalancing these strengths are the government's weak fiscal performance and burdensome debt stock, as well as low GDP per capita, the agency noted.

India rem...