Anis Chakravarty, Lead Economist, Deloitte said: Moodys has undertaken the long awaited upgrade in Indias sovereign rating.Moodys upgrade of Indias rating is a reaffirmation of the various reform measures undertaken by the govement over the last three-to-four years and we welcome this move, said FICCI President Pankaj R.FinTech firm MobiKwiks founder Bipin Preet Singh said: India has made its place among the major economies of the world the ratings will significantly improve business climate, enhance productivity, stimulate foreign and domestic investment and foster strong and sustainable growth across verticals including the FinTech sector.The rating is an acknowledgement that the reforms undertaken by the govement would lead to an enhanced business environment, fueling the foreign and domestic investment, and subsequently the growth momentum, Singh said.
CIIs Director General Chandrajit Banerjee said: The upgrade in Indias rating by Moodys comes Red onion head Wholesale as a major boost to market sentiment on India and a recognition of the transformational reforms being conducted by the govement.US credit rating agency Moodys on Friday upgraded Indias sovereign rating to Baa2 from its lowest investment grade of Baa, while changing the outlook for the countrys rating to stable from positive, and said its was based on the Indian govements wide-ranging programme of economic and institutional reforms.State Bank of Indias Chairman Rajnish Kumar said: The revision in ratings by Moodys is a positive development and is a great enabling factor for Indian financial markets.New Delhi, Nov 17 (IANS) Echoing the govements views, Indian industry on Friday said Moodys sovereign rating upgrade was in sync with the various govement reform measures over the last three-to-four years.Simultaneously, the rating upgrade of SBI amongst others indicates that Indian financial system remains resilient and robust and poised to support growth, Kumar said.
It is also very heartening to note that Moodys has taken cognizance of Indias higher growth potential and increased economic resilience as compared to other countries in our rating cohort. It clearly shows that the economy is tuing the coer and poised for a big leap forward, highlighting the immense potential that India offers as a global investment destination. Improvement in the credit profile will be a big positive for Indian companies and the govement, said Sumeer Chandra, Managing Director, HP Inc. The upgrade is only one notch above the lowest investment grade to Baa2 and still may not appear to be in sync with the level of economic growth as well as the strong macro-economic fundamentals prevalent in the country. More importantly, it also emboldens the govement to stay true to the path of strong and transformational reforms in the coming days, said Sunil Bharti Mittal, Chairman, Bharti Enterprises.Banking major ICICI Banks MD and CEO Chanda Kochhar said: This is a well-deserved recognition of the structural reforms that have been undertaken by this govement over the past couple of years.S. Patel. This move will not only give a further push to foreign investment inflows into the country but will also enhance our prospects of borrowing money abroad at better rates, he added. Some of the recent steps like recapitalisation of banks, GST, taking off the Insolvency and Bankruptcy Code have gone quite well with the Moodys, he added.With reinforcement of a perception of being a prudent and growing economy, India would continue to attract foreign funds both in the form of FDI and FII.The ratings upgrade underlines the efficacy of the bold structural reforms undertaken by the govement in recent years.We believe that Moodys rating upgrade is a big boost for India, as it will improve sentiments around ease of doing business within local and global investors.Indias growth story is more promising than ever and we see a further improvement in confidence level of global investment community. Over a point of time, this will reduce borrowing costs of govement and financial institutions and result in increased investor confidence in the India growth and reform story.IANSrv-ag/dgPost Source: Ians feed.
The rating agency simultaneously upgraded Indias local and foreign currency issuer rating to Baa2 from Baa3. The bond yields, Indian rupee and stock markets have already reacted favourably. This will also advance the govements objective of enhancing productivity and driving sustainable growth.On the banking front, the recent recapitalization measure and the formalisation of the insolvency and bankruptcy code will strengthen the banks as also facilitate speedier resolution of NPAs, Kochhar said.It reaffirms our belief that measures such as GST, doing business and bankruptcy reforms, public spending on infrastructure, reduced use of cash and banking reforms have all contributed to the rating upgrade, Banerjee saidThe upgraded rating of Baa2 will enable lower cost of borrowing in inteational markets for Indian businesses and attract more foreign fund flows into India.Another major business body Assocham Secretary General D.The ratings upgrade along with the recently reported improvement in Indias ease of doing business ranking underline the fact that we are moving in the right direction. Rawat said: Rating upgrade by Moodys Investors Service on Indias sovereign bonds would make a huge a difference to India Incs capacity to tap the global financial markets at very competitive rates.
onionsexporters
دوشنبه 12 فروردين 1398 - 12:37
بازدید : 171
برچسبها :
