Industry & Economy
-
Credit Rating
India Inc upbeat on Moody's rating
Our Bureau
New Delhi
,
Jan. 23
INDIA Inc has welcomed Moody's upgradation of India's currency rating to investment grade. Reacting to the upgradation, the Federation of Indian Chambers of Commerce and Industry (FICCI) said that the chamber believes that this is an international recognition of strong fundamentals of the Indian economy.
This certainly reflects the current economic boom in the country and is a very positive signal, the chamber said. FICCI feels that with the economy on its current course, Moody's will further revise upwards India's credit rating in the near future. It believes that India is a strong investment destination with rising prospects and the future rating should reflect these attributes of the Indian economy.
Mr Ravi Wig, President, PHD Chamber of Commerce and Industry (PHDCCI), said, "The fundamentals of the Indian economy are strong enough to give a boost to the important sectors of the national economy. The rapid increases in the foreign reserves of the country in recent times are more so due to the increased foreign investments in the country due to enhancement in the confidence levels of the foreign investors."
More Stories on :
Credit Rating |
Industry Associations
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
