Japan Credit Rating Agency upgrades India from BBB+ to A-
Big news for India: the Japan Credit Rating Agency just bumped up the country's credit rating from BBB+ to A-.
The upgrade comes thanks to steady economic growth, solid financial stability, and some successful reforms.
JCR pointed out that India's GDP grew 7.7% in FY2026 (fiscal year 2025-26, year ended March 2026), fueled by strong spending and public investment.
India FY2026 economy hits $3.9T
India's economy hit $3.9 trillion in FY2026, with real GDP up 7.7%. Tax cuts and lower GST rates helped out, while inflation, mostly from food and energy, stayed within the central bank's target.
The fiscal deficit shrank a bit too, now at 4.4% of GDP.
Still, JCR flagged India's high government debt as a concern.
On the bright side, banks are healthier than before: nonperforming loans dropped to just 1.8%.