New Delhi, Aug. 14 -- Ratings agency S&P Global has today upgraded India's sovereign rating to BBB from its earlier rating of BBB-, while maintaining the economic outlook as "stable". This comes just ahead of Independence Day tomorrow and amid United States President Donald Trump's imposition of 50 per cent tariffs.

Further, S&P Global has also revised India's short-term rating to A-2 from A-3, and improved the transfer and convertibility assessment to A- from BBB+.

In its report, S&P Global said their "stable" assessment reflects confidence in continued policy stability and that high infrastructure investment will support India's long-term growth prospects. "That, along with cautious fiscal and monetary policy that moderates that gover...