Fitch keeps Indias ratings stable

Global ratings agency Fitch affirmed India’s sovereign rating at BBB with stable outlook citing strong potential in medium to long-term growth. 


India maintains strong potential for growth in medium to long-term outlook, considering strong external balances some lagging structural factors, including difficult, but improving business environment, said the agency.  


The Fitch review for annual sovereign rating follows India's rating upgrade by Moody's after a gap of 14 years. S&P had retained the earlier rating. Fitch said India's fiscal finances are weak, but current account deficit position is favourable. 


The agency projected India’s growth at 7.3 per cent for FY19 and 7.5 per cent for FY20. The growth projected for the previous fiscal was 6.5 per cent till March 31 2018. It also considered India’s medium to long term growth as highest amongst emerging markets.