India, Aug. 14 -- S&P Global Ratings on Thursday bumped up India's investment grade rating, indicating that the economy's growth prospects won't be derailed by the US President Donald Trump administration's 50 per cent tariff shock.

According to a statement from S&P, India's credit rating has been upgraded to BBB from BBB-, with a stable outlook. The bump places India in the same rating category as countries like Mexico, Indonesia, and Greece. The ratings reflect India's stronger economic fundamentals, S&P (previously Standard and Poor's) said.

"The upgrade of India reflects its buoyant economic growth, against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations. Together with the government's ...