Japan Credit Rating Agency Ltd (JCR) upgraded India’s sovereign credit rating to A- from BBB+ on Wednesday. This upgrade was based on India’s strong economic growth, effective economic policies, a stronger financial system, and improved government spending quality. JCR had kept the BBB+ rating since 2007, even during global crises. The agency also raised India’s country ceiling to A, indicating improved economic fundamentals, policy framework, fiscal trajectory, and financial-sector resilience. JCR assigned a stable outlook for both foreign-currency and local-currency long-term issuer ratings. India's economy has grown by around 7%, with a growth of 7.7% in 2025-26 and an expected growth of over 6% in FY27.