Log In

 

Company Name : Hiranandani Communities

Wednesday, November 22, 2017 5:00PM IST (11:30AM GMT)

As Moody's Upgrades India's Rating, Reforms set to Foster Sustainable Growth: Dr Niranjan Hiranandani


Mumbai, Maharashtra, India

Global rating agency Moody's Investors Service raised India's sovereign credit rating to 'Baa2' from 'Baa3'. Moody's also changed its rating outlook to stable from positive, explaining that at the 'Baa2' level, the risks to India's credit profile were broadly balanced.

It is extremely positive international recognition for India after undergoing various revolutionary reforms introduced in NDA regime over past few years. The economic reforms such as improvement to the monetary policy framework, address issues of NPA's, recapitalisation, Insolvency & Bankruptcy law, fiscal consolidation framework, GST has brought in much required push in the productivity, improvised business climate ultimately fostering strong and sustainable growth of Indian economy. Government's reform programme will surely reap the benefits once the smooth implementation is focused upon.
 
We congratulate Hon'ble Prime minister Shri Narendra Modi on giving this upgrade to the economic credibility of India. Describing the upgrade as a development it will reduce the cost overseas borrowing and improve investments in India', Dr Niranjan Hiranandani, CMD, Hiranandani Communities and President, National Real Estate Development Council (NAREDCO) pointed out that the rating upgrade had come after a long spell of 13 years. He further added, "Continuous progress on economic and institutional reforms will enhance India's high growth potential, overseas borrowing by Indian companies is set to get cheaper. It is also expected that foreign investors will be positively inclined to invest more in India with robust growth story".

Emphasis on robust infrastructure and rural development spending will sustain their growth story. Indian companies are set to benefit from rating upgrade as investors would be keen to lend money. Lower cost of borrowings will help govt to maintain fiscal discipline and Indian companies will be able to reap the benefits of lower cost of borrowings.
 
Thus upgrade in India's global rating is very heartening indication of resilient and robust Indian financial system poised to strengthen growth. This will act as a further boost to the goal of Housing for All.


Click here for Media Contact Details

Ritika Shah, Media Manager, Hiranandani Group, +91-9833461094, rshah@hrealty.com


More News from Hiranandani Communities

04/01/2019 5:26PM Image

Extension of ‘CLSS for MIG’ on Home Loans a New Year Gift for Home Seekers: Dr Niranjan Hiranandani

The Hon’ble Minister of Housing and Urban Affairs, Mr. Harshdeep Singh Puri gave a New Year gift to home seekers on the last day of 2018. He announced extension of the Credit Link Subsidy Scheme (CLSS) on home ...

31/12/2018 5:20PM Image

Ring in the New Year With the Winterlight Fiesta at Hiranandani Gardens, Powai: Dr. Niranjan Hiranandani

The vibrant global township of Hiranandani Gardens Powai gets illuminated to celebrate light over darkness every year on the occasion of New Year Eve. The Winterlight Fiesta has been spreading the glow of festivity ...

24/12/2018 3:00PM Image

Oragadam Is the Future Perfect Real Estate Location in Chennai’s Periphery

For any real estate project, the one point which makes it a win-win situation is the location. What makes any location ‘hot and happening’ from a real estate perspective is about three points: location, accessibility ...

Similar News

22/01/2019 12:55PM Image

Puravankara, Leading the Realty Space With Vision and Innovation

In 1975, the promise of Mumbai, India’s business epicentre lured a young man to its glitzy shores. In a quintessential narrative, he came to the city with big dreams, bolstered by little more than grit and ...

No Image

22/01/2019 11:50AM

Identity Devices Launches Innovative Biometric Privacy Platform to Safeguard Aadhaar User's Privacy and Data

Identity Devices Sweden AB (Identity Devices), an innovative new digital identity and biometric technology company, today announced an innovative new Biometric Privacy Platform for the Aadhaar ecosystem to enable ...

News Summary

Global rating agency Moody's Investors Service raised India's sovereign credit rating to 'Baa2' from 'Baa3'. Moody's also changed its rating outlook to stable from positive, explaining that at the 'Baa2' level, the risks to India's credit profile were broadly balanced.