New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said the revision in India’s rating outlook to positive by S&P reflects solid growth performance and promising outlook for the coming years.

India is well on track to become the third-largest economy in the third term of the government and become a Viksit Bharat by 2047, Sitharaman said in a post on X.

Earlier in the day, S&P Global Ratings upgraded India’s outlook to positive, from stable. This is the first time that S&P has assigned a positive outlook on India’s rating.

S&P retained India’s rating at lowest investment grade of ‘BBB-‘.