Big economic boost: Japan upgrades India's sovereign rating to A- amid strong growth

New Delhi: Japanese credit rating agency JCR on Wednesday upgraded India's sovereign rating to 'A-' with a stable outlook, citing "solid" economic growth and improved financial parameters.

It said that India, with a population of more than 140 crore and nominal GDP of USD 3.9 trillion, is expected to retain a high growth rate of over 6 per cent in the current fiscal.

The Indian economy has maintained a high growth rate of around 7 per cent, supported by robust private consumption and public investment, the Japan Credit Rating Agency (JCR) said in its India sovereign rating.