What are India’s problems with most Credit Ratings Agencies?
India faces challenges with credit rating agencies, which often overlook its economic strengths and rely too heavily on qualitative assessments.
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While speaking at a business conference in London last week, Commerce Minister Piyush Goyal questioned the methodologies employed by sovereign ratings agencies in assigning ratings to India, saying they have been “unfair to India”. On the other hand, he praised one ratings agency — CareEdge Ratings — for being “objective”. This is not the first time the Indian government has pointed out its problems with the global sovereign ratings agencies. The Hindu looks into what the issues are.What do the ratings agencies measure?India is rated by seven international sovereign credit rating agencies: Standard and Poor’s (S&P), Moody’s Investors Service, Morningstar DBRS, Fitch Ratings, Japanese Credit Rating Agency (JCRA) and Rating and Investment Information (R&I), and CareEdge Ratings.
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