Fitch Ratings maintained India’s sovereign rating at

Solution

Fitch Ratings retained India’s rating at BBB- with a Stable outlook. The assessment cites robust growth and solid external finances as supporting factors. At the same time, it flags that private investment may remain subdued and notes constraints in the form of high fiscal deficits, large government debt, and weak structural metrics such as governance and low GDP per capita. The rating action explicitly mentions that U.S. tariffs represent a moderate downside risk, though the overall impact is uncertain.