New Delhi Strongly Advocates for Raising India’s Sovereign Rating from Moody’s
India is advocating for a boost in its sovereign rating from Moody’s ahead of the annual review. Moody’s Investors Service representatives recently met with officials from the Indian government to discuss the country’s strong economic fundamentals and reforms. India’s sovereign rating currently stands at ‘Baa3,’ which is the lowest rating in the investible category.
Moody’s Accepts Positivity of Indian Economy
After the meeting, an official stated that Moody’s has acknowledged the positivity of India’s economy, and there is hope for a rating upgrade. A rating upgrade would mean that India is less risky and would have to pay less interest on loans.
Questions Raised on Rating Parameters
Along with discussing India’s economic reforms, government officials also questioned Moody’s on its rating parameters. The officials highlighted the development of infrastructure and foreign exchange reserves of US $600 billion. Representatives from NITI Aayog, as well as other economic-related ministries, participated in the meeting. Two other rating agencies, Fitch and S&P, have recently kept India’s rating unchanged at ‘BBB-‘ with a stable outlook.
India’s advocacy for a higher sovereign rating from Moody’s is a sign of confidence in its economy. Moody’s accepting the positivity of India’s economy is a good sign for a potential rating upgrade. The country’s ongoing economic reforms, development of infrastructure, and foreign exchange reserves demonstrate the strength of India’s economy.
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