Fitch downgraded US government’s credit rating. And while markets across the world, including India, slumped in response, volatility will likely be driven by other factors.
Fitch said that Adani Transmission Ltd & Adani Ports and Special Economic Zone are prone to risks due to governance weakness at the parent conglomerate.
The ratings agency added that India's public finances remain the key driver of the country's sovereign rating and its limited reliance on external financing helps.
Fitch said growth will gradually recover to 5.6% in FY21 and 6.5% in the following year with support from easing monetary and fiscal policy and structural measures.
The government has been making a strong pitch to Fitch Ratings for an upgrade after rival Moody's Investors Service in November 2017 gave the country its first sovereign rating upgrade since 2004.
Fauja Singh, 114, died after being hit by a speeding car. His death renews questions about India’s deadly roads, rising accidents, and poor traffic discipline.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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