Newly-launched ARC Ratings on Monday gave a moderate risk rating of 'BBB+' to India, with a positive outlook in its first sovereign rating action.
The london-based agency, which has partnered withdomestic agency Care Ratings, said it expects India's growth to accelerate from an annual average of 4.8 per cent in 2012-14 to 6.5 per cent in 2015-17, driven by a recovery in corporate investment, robust domestic consumption and the new Government's aggressive growth-enhancing structural reform programme.
"We have assigned a long-term foreign currency issuer rating of BBB+ to India.