Aug 25, 2025
Fitch Retains India’s BBB- Rating, Flags GST Reform Risks
Fitch Ratings has reaffirmed India’s sovereign credit rating at BBB- with a stable outlook, cautioning that government finances remain a key weakness despite robust growth and solid external stability. The rating, the lowest in the investment-grade category, comes just days after S&P upgraded India to BBB. While acknowledging that proposed GST reforms could support long-term growth, Fitch warned…