Japan’s R&I ups India’s sovereign rating

New Delhi: Japan’s Rating and Investment Information, Inc. (R&I) has upgraded India’s long-term sovereign credit rating to ‘BBB+’ from ‘BBB’, while retaining the “Stable” Outlook for the Indian economy.

This is the third such upgrade of India by a sovereign credit rating agency this year, following S&P’s upgrade to ‘BBB’ (from BBB-) in August 2025 and Morningstar DBRS’ upgrade to ‘BBB’ (from BBB (low)) in May 2025. As per R&I’s India sovereign rating review published on Friday, the ratings upgrade is supported by India’s position as one of the world’s largest and fastest-growing economies, underpinned by its demographic dividend, robust domestic demand, and sound government policies.