"It is an upgrade which has happened after 13 years. The upgrade is a recognition of the reform process in India, particularly in the last 3-4 years, in which structural reforms placed India on a high growth trajectory, he said. Stating that all these steps constitute major reforms and are directional, he said the rating upgrade therefore is "extremely encouraging". He said the upgrade has not happened in isolation and for the last three years the India has been the fastest growing major economy. "And after a long spell of 13 years, India gets the rating upgrade.

Source: The Telegraph November 17, 2017 08:26 UTC