S&P Global’s rating upgrade for India from ‘BBB-‘ to ‘BBB’ has been long due and could not have come at a better time, said Gurmeet Chadha, chief information officer and managing partner of Complete Circle Wealth Solutions LLP.
Chadha, who spoke to NDTV Profit on Thursday, sees the development bringing in long-term implications, in terms of flows in bonds and a significant reduction in foreign investor selling.
“Though it might seem like asking for more, India deserves even better,” said Chadha. The rating upgrade now places India at par with the likes of Thailand and Romania, he noted, adding that this could help the country right now as it grapples with a host of issues.
“The Indian market is the only market that has been underperforming in the last couple of weeks owing to tariffs and trade tensions,” Chadha pointed out, in juxtaposition with the US, Europe and Japan, whose markets have been scaling new highs in the recent past.
In the last one month, the benchmark Nifty 50 has fallen nearly 2%, while it has dipped 0.19% in the last three months. Chadha sees the rating upgrade as a silver lining amid gloom in Indian trading activity.
