There doesn’t appear to be any new (today’s) comments from Finance Minister Nirmala Sitharaman urging changes to the global credit rating agencies’ methodologies. The most recent statements date back to October 2024, when she called for these agencies to better reflect the economic fundamentals, repayment capacity, and investment‑attractiveness of emerging-market nations like India . During her speech in Washington, D.C., she emphasized that sovereign ratings should capture macro fundamentals, cost of capital, and private‑investment potential .

At that time, she specifically highlighted that India—despite being the fastest growing major economy and boasting IMF‑backed growth forecasts of 7% and 6.5% over successive years—was still rated at the lowest tier of investment grade by S&P, Moody’s, and Fitch . She pressed rating agencies to upgrade their models to reflect such realities, arguing current assessments were overly conservative and did not account for reforms and liberalization efforts under the Modi‑led government .

Unless new statements have emerged within the last 24 hours, the last official call for revising global rating methodologies remains that October 2024 address. If you’re aware of another recent development, feel free to share the sourceI can dig deeper!

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