Posted inIndia, South Asia, World

Despite Moody’s upgrade, India’s economic outlook remains tough

On November 16, the global rating agency, Moody’s Investors Service, upgraded India’s sovereign rating to BAA2 -“Stable” (a medium investment-grade with moderate credit risk) from BAA3 – “Positive” (the lowest investment grade rating). This was the first rating upgrade in 14 years. Although it was greeted joyously as a vindication of the reform process, the […]