Archive · 19 Sep 2025
India Receives Third Credit Rating Upgrade in 2025
A Japanese credit rating agency, R&I, has upgraded India's credit rating to BBB+, marking the third upgrade in 2025.
This upgrade reflects confidence in India's growing economy.
Key factors include strong domestic demand, good government policies, and progress in managing debt.
Despite potential risks like US tariffs, India's economy is expected to remain resilient.
Government policies under Prime Minister Modi are aimed at attracting foreign manufacturers and boosting infrastructure.
This upgrade signals global confidence in India's economic future.
R&I upgraded India's long-term sovereign credit rating to BBB+.
This is the third credit rating upgrade India has received in 2025.
R&I cited India's strong economy, fiscal discipline, and domestic demand as key factors.
The agency highlighted India's strengthened external stability and manageable debt levels.
The government welcomed the upgrade, emphasizing global confidence in India's economy.
- Who
- R&I (Japan)
- What
- Upgraded India's credit rating
- When
- September 2025
- Where
- N/A
- Why
- Due to economic strength, fiscal discipline, domestic demand, and external stability
Positive economic impact
Neutral Economic impact
US Tariff Hikes
Positive economic impact
Government increases capital expenditures and reduces fiscal deficit.
Neutral Economic impact
US tariff hikes will have limited impact because of domestic demand-driven growth
- Rating Agency
- R&I (Japan)
- Rating
- BBB+ (Upgraded)
- Outlook
- Stable
- Upgrade Timing
- Third in 2025
- Key Factors
- Economic strength, fiscal consolidation, domestic demand, external stability
- GST Impact
- Possible revenue losses offset by stronger private consumption
Sources
India's contribution to global GDP growth to reach 9 pc by 2035: Govt official
Cautious on US linked uncertainties, India’s pharma industry projected to grow between 7 -9 per cent in FY26: ICRA
Indian, Japanese firms lead corporate turnarounds
PSBs outpaced private peers on credit growth in FY25: DFS Secy
Rupee slides sharply against euro, pound and yen too, besides dollar, in 2025
NaBFID launches partial credit enhancement facility
Global confidence in India is rising amid next-gen reforms: Ashwini Vaishnaw
Riding the waves of oceanic opportunity
India’s global GDP share projected 9%
After S&P, Japan's R&I Upgrades India's Sovereign Rating To 'BBB+' With Stable Outlook
Japanese Credit Rating Agency Upgrades India’s Sovereign Rating To BBB+
Rating and Investment Information upgrades India’s long-term sovereign credit rating to BBB+
Republic Business Leadership Conclave: Harsh Malhotra on India Shaping Global Markets
India secures third credit rating upgrade in FY26 as Japan’s R&I lifts outlook
Global confidence in India grows, Japan's R&I upgrades sovereign rating to BBB+
India’s sovereign rating upgraded to BBB+ (Stable) by Rating and Investment Information (R&I), Japan - Economy News
R&I ups India’s credit rating to ‘BBB+’
Japan’s R&I upgrades India’s sovereign rating to BBB+, third upgrade in 2025
Indian economy shows resilience amidst global turbulence
