New Delhi, Sept. 2 -- Japanese Credit Rating Agency (JCRA) has upgraded India's sovereign rating to A- from BBB+, citing the country's solid economic growth, robust private consumption and public investment, along with improvements in the soundness of its financial system.

In an official statement on Wednesday, JCRA said the Indian economy has maintained a high growth rate of around 7 per cent, supported by strong private consumption and public investment.

It stated, "The government of India has steadily implemented policies conducive to productivity growth and economic development, including the development of digital public infrastructure and the implementation of the goods and services tax (GST), strengthening the country's economic ...