Economic Reforms To Drive India Sovereign Rating, Says K V Kamath

Veteran banker K V Kamath on Wednesday expressed optimism that India’s sovereign rating would go up on the back of efforts being taken by the government to push economic reforms.

Participating in a virtual event organised by India International Centre (IIC), Kamath, former chief of Shanghai-based New Development Bank, further said that he does not think rating agencies can hold India’s rating “where it is”.

“With all the efforts (economic reforms) the government of India is making, I think that sovereign rating itself would go up. Because, I don’t think rating agencies can hold India’s rating where it is,” Kamath said.

The Economic Survey had expressed concern over lower sovereign rating assigned by agencies like Fitch, S&P and Moody’s to India despite its strong economic fundamentals.

Source: Business Standard

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