Fitch Ratings affirmed India’s sovereign rating at ‘BBB-’ with a stable outlook on Monday, citing robust growth but flagging weak fiscal metrics. US tariffs pose a moderate risk to its growth forecast of 6.5% for the current fiscal year, unchanged from FY25, but with uncertain impact, as the country’s exports to the US account for only 2% of GDP. Domestic demand will remain solid, underpinned by ongoing public capex initiatives and steady private consumption. However, private investment is likely to remain moderate, particularly given heightened US tariff risks. Meanwhile, proposed GST reforms could help offset growth risks. If adopted, these reforms would support consumption. Standard & Poor's credit rating for India stands at BBB with a stable outlook. Moody's credit rating for India was last set at Baa3 with a stable outlook. DBRS's credit rating for India was last reported at BBB with a stable outlook.