The US-based rating agency, however, warned that India’s rating could be downgraded if its fiscal metrics and the outlook for general government fiscal consolidation deteriorates materially. A sovereign ratings is reflective of a country’s risk profile and a ratings upgrade would enhance India’s position as an investment destination for foreign investors. “Moody’s believes that the @narendramodi Government’s reforms will improve business climate, enhance productivity, stimulate foreign and domestic investment, and ultimately foster strong and sustainable growth,” PMO India tweeted. @MoodysInvSvc — PMO India (@PMOIndia) November 17, 2017India’s sovereign credit rating was last upgraded by Moody’s in January 2004 to Baa3 from Ba1. The government “is going to do what it has to do on the domestic front — employment growth, economic growth, reviving investment,” said Chief Economic Advisor Arvind Subramanian.

Source: Indian Express November 17, 2017 15:56 UTC