‘Much required’: PM EAC member welcomes S&P rating upgrade; says India still ‘underrated’

S&P Global Ratings upgraded India's sovereign credit rating to 'BBB', a move welcomed by the Economic Advisory Council, though they believe India's economic strength warrants a higher rating. The upgrade reflects India's fiscal consolidation, strong growth, and infrastructure development. S&P anticipates continued economic resilience driven by domestic consumption and rising capital expenditure.