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S&P Global Ratings upgrades India's long-term credit rating after 18 years
Big news: S&P Global Ratings just upgraded India's long-term credit rating to BBB.
It's the first upgrade in 18 years, and comes as India is widely recognized as the world's fifth-largest economy and Asia-Pacific's fastest-growing major player.
Factors behind the upgrade
S&P pointed to India's strong GDP growth—averaging 8.8% from FY22 to FY24—and steady progress on government spending and debt control.
Even with US tariffs in play, India isn't too rattled thanks to solid domestic consumption and manageable inflation within RBI's target range.
Government sees this as a boost for its development roadmap
The stable outlook shows global confidence in how India is handling its finances.
The government sees this as a nod to ongoing reforms and its big goal: turning India into a developed economy by 2047.