{"id":10651,"date":"2024-07-13T15:23:03","date_gmt":"2024-07-13T09:53:03","guid":{"rendered":"https:\/\/indiaepost.com\/?p=10651"},"modified":"2024-07-13T15:23:05","modified_gmt":"2024-07-13T09:53:05","slug":"robust-sovereign-credit-rating-agencies-need-of-the-hour-amitabh-kant","status":"publish","type":"post","link":"https:\/\/indiaepost.com\/index.php\/2024\/07\/13\/robust-sovereign-credit-rating-agencies-need-of-the-hour-amitabh-kant\/","title":{"rendered":"Robust sovereign credit rating agencies need of the hour: Amitabh Kant"},"content":{"rendered":"\n<p>&nbsp;As India embarks on its journey to become &#8216;Viksit Bharat&#8217; by 2047, it&#8217;s important that we have appropriate credit ratings and call out global agencies for biases and lack of transparency for not objectively assessing India\u2019s strong economic fundamentals, G20 Sherpa and former NITI Aayog CEO, Amitabh Kant, said on Saturday.&nbsp;<\/p>\n\n\n\n<p>Addressing the CareEdge Ratings \u2018Conversations 2024\u2019 conference in Pune, he said the notion that developing countries offer more risky investments is not solely based on objective financial metrics but is significantly influenced by subjective assessment.<\/p>\n\n\n\n<p>Kant stressed the need for promoting home-grown credit ratings agencies, saying that appropriate sovereign credit ratings are actually a very critical issue that impacts not only India but also the entire emerging economies.<\/p>\n\n\n\n<p>Hailing India\u2019s high growth rate of around 8.2 per cent, he stressed that future growth will come from cutting-edge areas.<\/p>\n\n\n\n<p>According to Najib Shah, Chairman, CareEdge, the world is moving away from domination by a single superpower, a single currency and moving towards a more balanced and complex system that&#8217;s emerging and evolving.<\/p>\n\n\n\n<p>\u201cSuch an environment also has implications for the financial situation. Destructive competition between the US and China has ushered in a new era of competing geopolitics and economies. The role of the credit rating agency will be important here for acting in a transparent, competitive, professional manner,\u201d Shah told the gathering.<\/p>\n\n\n\n<p>At the event, Gulshan Malik, Deputy Managing Director, State Bank of India (SBI) said the banking sector in India is adequately capitalised as well as ready to fund the next phase of growth which is very critical.  AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp;As India embarks on its journey to become &#8216;Viksit Bharat&#8217; by 2047, it&#8217;s important that we have appropriate credit ratings and call out global agencies for biases and lack of transparency for not objectively assessing India\u2019s strong economic fundamentals, G20 Sherpa and former NITI Aayog CEO, Amitabh Kant, said on Saturday.&nbsp; Addressing the CareEdge Ratings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[87],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - 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