India Rating
India's rating upgrade by Japanese agency shows economic strength - Finance ministry
This story was originally published at 20:02 IST on 2 September 2026
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NEW DELHI – Welcoming India's sovereign rating upgrade by Japan Credit Rating Agency Ltd., the finance ministry Wednesday said the upgrade underscores the continued strengthening of India's economic fundamentals, especially against the backdrop of a challenging global environment. India's economic fundamentals are supported by sustained growth, effective economic policies, improved fiscal quality, and a stronger financial system, the finance ministry said.
Japan Credit Rating Agency on Wednesday raised India's sovereign rating by a notch to 'A-' from 'BBB+'. The rating agency upgraded India's long-term issuer ratings in foreign currency and local currency by one notch to 'A-', while also raising the country's ceiling by one notch to 'A'.
"Upgrade reflects India's strong and resilient economic growth, improving fiscal quality, strengthened financial system, and robust external position," the finance ministry said in a release.
The Indian economy is expected to retain a high growth of over 6% in 2026-27 (Apr-Mar), supported by robust private consumption and public investment, the rating agency said. Data released by the statistics ministry on Monday showed India's GDP grew quicker than expected, at 7.8% in the quarter ended June, despite various exogenous shocks. The Indian economy grew 8.6% in the March quarter and 6.9% in the year-ago quarter. End
Reported by Priyasmita Dutta
Edited by Saji George Titus
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