New Delhi, Aug. 14 -- Standard & Poor's (S&P) rating agency upgraded its long-term unsolicited sovereign credit ratings of India to 'BBB' from 'BBB-.' Moreover, the agency also improvised its short-term ratings to 'A-2' from 'A-3' while pointing towards a stable economic outlook.
This upgradation in rankings is driven by buoyant economic growth, against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations.
The rating agency noted, "India remains among the best-performing economies in the world. It staged a remarkable comeback from the pandemic with real GDP growth over fiscal 2022 (year-end March 31) to fiscal 2024 averaging 8.8%, the highest in Asia-Pacific."
" We expect these growth dynamics to...