Economy & Business
Japan's JCR raises India's rating to 'A-'
JCR upgraded India's sovereign rating from BBB+ to A- (Stable) on 2 September 2026.
On 2 September 2026 the Japan Credit Rating Agency (JCR) upgraded India's long-term foreign- and local-currency issuer ratings by one notch, from 'BBB+' to 'A-', with a Stable outlook, and raised India's country ceiling to 'A'. JCR cited strong growth — real GDP grew 7.8 per cent in 2025-26 and again in the first quarter of 2026-27 — better quality of spending, and a fall in the Centre's fiscal deficit from 4.7 per cent of GDP in 2024-25 to 4.4 per cent in 2025-26.
Test yourself
Question 1
To which rating did the Japan Credit Rating Agency upgrade India in September 2026?
- AA-
- BBBB+
- CBBB-
- DAA
Show the answer and explanation
Correct answer: A
Explanation
JCR moved India up one notch, from BBB+ to A-, with a Stable outlook.
BBB+ was the rating before the upgrade.
- Concept
- JCR rating upgrade
- Typical time
- 50 seconds
- Written from
- pib.gov.in