Thursday, February 01, 2007

Standard & Poor's upgrades India to 'investment' grade

At IndusView, we predicted that 2007 would herald a European ‘landgrab’ by Indian companies, as they vie for space in the overseas mergers market.

Standard & Poor’s decision to upgrade India’s sovereign credit rating will be the catalyst for many businesses to take India seriously as an investment destination, continuing its 9 per cent plus GDP growth.

(To attract foreign investment, countries strive for an ‘investment’ sovereign rating. This news will make India’s successes so far seem like a warm up.)