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

22/10/2018 11:15AM Image

Dr. Niranjan Hiranandani Takes Over as Senior Vice President, Assocham

Dr. Niranjan Hiranandani, Founder & MD, Hiranandani Group, has taken over as the Senior Vice President of industry chamber Assocham.

09/10/2018 4:08PM Image

'Infrastructure Projects Enhance Attractiveness of Realty Hot-Spots Like Oragadam,' Dr. Niranjan Hiranandani

Chennai’s real estate scenario has been on a steady growth curve in the past few years with no sudden spikes or dips in its price-points index. Chennai’s real estate market has signalled uptick in the sales velocity not ...

19/09/2018 11:39AM

India Tries a New Economic Mantra: Dr Niranjan Hiranandani

Faced with the double whammy of increasing Current Account Deficit (CAD) as also the falling value of the Rupee in international currency markets, the Indian Government, on Friday 14 September, at a meeting chaired by ...

Similar News

22/10/2018 11:50AM

Commvault Resets Industry Benchmark for Software Interaction in Data Management with Announcement of Commvault Command Center™

Commvault, a recognized global leader in backup, recovery, the cloud and data management across any hybrid environment, unveils the Commvault Command Center, redefining the modern enterprise software interface and ...

No Image

22/10/2018 11:15AM Image

Dr. Niranjan Hiranandani Takes Over as Senior Vice President, Assocham

Dr. Niranjan Hiranandani, Founder & MD, Hiranandani Group, has taken over as the Senior Vice President of industry chamber Assocham.

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.