India's Sovereign Credit Ratings
A sovereign credit rating is an agency's judgment on how reliably a government will repay what it borrows, and it sets the benchmark cost of that borrowing. Moody's Ratings kept India at Baa3 with a stable outlook on 18 September 2026, the Japan Credit Rating Agency raised India a notch to A- on 2 September, and S&P Global Ratings and Fitch affirmed investment grade in August. Growth forecasts have risen alongside: Fitch lifted its 2026-27 call to 6.9 percent on 23 September, while Moody's and S&P expect 7 percent.
- sovereign rating
- credit rating agency
- Japan Credit Rating Agency
- investment grade
- country ceiling
- non-performing loans
- S&P Global Ratings
- Fitch
- Moody's Ratings
- Baa3
- sovereign credit rating
- Fitch Ratings
- GDP growth forecast
- fiscal deficit
Read the full living note — free
The complete note in both exam lenses (UPSC analytical / fact capsule), its full version history, and “what changed since you last read” — plus tonight's quiz.
Open in CA·WikiAI-assisted, human-reviewed · sourced from PIB, RBI & ministries · editorial policy
More living notes in Economy & Banking
- India's Pharmaceutical SectorAdds two Health Ministry drafts open for comment: WHO-aligned Grade A microbial limits in Schedule M, and a qualified person authorised for every batch release.
- Indian Railways: Network StatusReplaces the August freight print with October 2026's: 145.07 MT, the best October on record, against 133.93 MT a year earlier; 978.78 MT for April–October.
- Critical Minerals & Rare Earths StrategyAdds the new ₹2,814 crore Cabinet scheme of 4 November 2026 that subsidises lithium and nickel refining plants, with a pointer to its own card.
- Purchasing Managers' Index (PMI) — India TrackerReplaces August's services and composite prints with October's: services 55.8, a four-month high, and composite 56.2, on domestic demand while export orders slowed.
- RBI Regulatory Actions 2026Adds the 4 November constitution of the Technical Consultative Committee for Financial Markets: chair, remit and FIMMDA and CCIL seats; folds the July and August log entries into one.
- India's Coal SectorAdds SUVIKALP, the Coal Controller's tool for reusing closed mines, and the FY 2024-25 Star Rating, where 50 mines won five stars.