New Delhi, Sept. 20 -- India's sovereign credit rating has been upgraded by Japan's Rating and Investment Information, Inc. (R&I) to

BBB+

from

BBB

with a "Stable" outlook. This is the third upgrade for India in 2025, after similar actions by S&P in August and Morningstar DBRS in May, underscoring the global recognition of India's resilient economy and sound macroeconomic management.

R&I's review cited India's strong macroeconomic fundamentals, demographic dividend, robust domestic demand, and fiscal consolidation backed by buoyant tax revenues and subsidy rationalisation. The agency also highlighted improved external stability, with a modest current account deficit, low external debt-to-GDP ratio, surpluses in services and remittance...