India, Sept. 2 -- The Government of India has issued a release:
The Government of India welcomes the decision of Japan Credit Rating Agency (JCR) to upgrade India's Long-Term Foreign Currency and Local Currency Issuer Ratings by one notch from 'BBB+' to 'A-', while maintaining the Stable Outlook. JCR has also raised India's country ceiling by one notch to 'A'.
The upgrade reflects India's solid economic growth, the effectiveness of economic policies in strengthening the foundations for growth, and the improved soundness of the financial system. JCR noted that the Indian economy has maintained a high growth rate, supported by robust private consumption and public investment. The latest GDP estimates released by the Ministry of Statistics a...