US-based Moody's today upgraded India's sovereign credit rating by a notch to Baa2 with a stable outlook citing improved growth prospects driven by economic and institutional reforms. Prime Minister Narendra Modi in a tweet after the ratings said that Moody's believe that government's reform will improve the business climate. The rating upgrade comes after a gap of 13 years - Moody's had last upgraded India's rating to Baa3 in 2004. @MoodysInvSvc - PMO India (@PMOIndia) November 17, 2017The reform programme will thus complement the existing "shock-absorbance capacity" provided by India's strong growth potential and improving global competitiveness, it added. "Longer term, India's growth potential is significantly higher than most other Baa-rated sovereigns," Moody's noted.

Source: India Today November 17, 2017 03:07 UTC