Japan’s JCRA upgrades India’s sovereign rating to A-, cites strong growth, financial stability

Japan Credit Rating Agency (JCR) has upgraded India’s sovereign rating by one notch to A- from BBB+, with a Stable outlook, citing sustained economic growth, stronger financial-sector soundness and policy measures supporting development. India grew 7.7% in real terms in FY2026, while its fiscal deficit narrowed and banking-sector asset quality improved.