Indian economy
Some time ago US President Donald Trump made a sharp remarks about India’s economy. He even called India “Dead Economy” i.e. “dead economy”. This comment made this comment between trade policy and tension in the relations between America and India to buy cheap oil from Russia.
Trump expressed displeasure, saying, “I don’t care what India does with Russia. They can together bring down their dead economies.” Trump’s statement was very criticized in India and many economic experts justified it. But now a big rating agency of America has upgraded its rating on India’s economic situation.
S&P Global rating upgrade
US credit rating agency S&P Global has improved its ratings regarding India’s economic condition. S&P Global has increased India’s long-term unsaulted sovereign credit rating from “BBB-” to “BBB”. This rating shows that India’s economy is now considered strong on global standards.
What is S&P Global’s rating means?
Credit rating is the criteria through which the economic credibility of a country is fixed. S&P Global has described India’s strong economic foundation, policy stability, and investment in continuous infrastructure as the main reason for increasing ratings. The agency said that India’s economic growth will remain fast in the coming two to three years and the government’s stand will remain in the direction of fiscal discipline (fiscal discipline). S&P Global also said that even though the tariff or global instability imposed by the US will affect India, its impact will be managed.
What does this change indicate for the future?
The report of S&P states that India has invested big in the last few years in economic reforms, technology -based administration, and infrastructure. This has not only increased employment opportunities in the country but has also strengthened the growth rate in the long term.