Business and economics

JCR Upgrades India’s Sovereign Rating to A-

Published on 28 Sep 2026

Japan Credit Rating Agency upgraded India’s long-term issuer ratings from BBB+ to A- on 2 September 2026.
Outlook: Stable; Country ceiling raised to A.
Key reasons: 7.7% GDP growth in FY2026, NPL ratio below 2%, GST reforms and digital public infrastructure.
Projected growth above 6% in FY2027.
Concerns remain over high government debt and fiscal relations.

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