S&P Global Upgrades India’s Sovereign Credit Rating After 18 Years, FinMin Welcomes The Move

Commerce Minister Piyush Goyal on Thursday welcomed S&P Global’s decision to upgrade India’s sovereign credit rating from ‘BBB-‘ to ‘BBB’ with a ‘stable’ outlook, calling it a testament to the country’s economic resilience and the government’s commitment to improving the lives of all citizens.

“Credit ratings agency S&P Global’s upgrade of India’s long-term sovereign credit rating from ‘BBB-‘ to ‘BBB’ and its short-term rating to ‘A-2’ from ‘A-3’ with a stable outlook is a welcome decision," Goyal said in a post on X.

He added that this rating upgrade, which has come after an 18-year gap, has reaffirmed that under Prime Minister Narendra Modi’s decisive leadership: