Fitch Rating affirms India's sovereign rating at the lowest investment grade of BBB-with a stable outlook. The growth rate of India forecasted by Fitch is 6.8% in financial year 2019-20 and 7.1% in FY 2020-21.According to Fitch, Foreign Direct Investment (FDI) regulations has been eased and there is reduction in red tape but still there are some difficulties in doing business in India due to which India's rating is not upgraded. Since 2006, this is the 13th year in a row that India is getting "BBB" ranking from Fitch. On August 1, 2006, Fitch had upgraded the India's rating from "BB+" to "BBB".
