S&P Global Ratings Upgrades India’s Rating
• S&P Global Ratings has upgraded India’s long-term sovereign credit rating from BBB- to BBB, indicating adequate capacity to repay obligations.
• The upgrade is based on “buoyant” growth, commitment to fiscal consolidation, improved spending quality, and anchored inflationary expectations.
• The rating upgrade is the first by the agency in 18 years, reaffirming India’s growth prospects and resilience.
• S&P projects India’s economy to grow from $3.9 trillion in 2024 to $5.5 trillion by 2028, with growth averaging roughly 6.8% over the next few years.
• The ratings agency is less pessimistic about the impact of Trump’s tariffs on the Indian economy, expecting it to be “manageable” and not pose a “material drag on growth.”
• The ratings agency also flags improvement in the government’s debt-deficit dynamics, with the general government deficit expected to fall from 7.3% of GDP in 2025-26 to 6.6% by 2028-29.
• S&P warns against lowering the ratings if political commitment to consolidate public finances is erosion.
India Credit Rating Upgrade is important topic for Civil service exam (WBCS).
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