Industrial Production (IIP) Up 4.9% in April

1 June 2026National

India's Index of Industrial Production expanded 4.9% year-on-year in April 2026 (released in June), above the 3.9% expected, with manufacturing rising a sharper 6.2%.

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Japan Credit Rating Agency Upgrades India's Sovereign Rating to 'A-' with Stable Outlook

The Japan Credit Rating Agency (JCR) upgraded India's Long-Term Foreign Currency and Local Currency Issuer Ratings by one notch from 'BBB+' to 'A-', retaining a Stable Outlook, and also raised India's country ceiling by one notch to 'A'. JCR cited India's solid economic growth, the effectiveness of economic policies in strengthening growth foundations, and improved soundness of the financial system. The upgrade continues a run of positive sovereign actions on India and sits alongside the record foreign exchange reserves of $740.803 billion reported for the week ended 28 August 2026, both pointing to strengthening external buffers and investor confidence.

GK ByteThe big three global rating agencies are S&P Global Ratings, Moody's and Fitch Ratings; JCR is a Japanese agency headquartered in Tokyo | 'BBB-' and above is investment grade; a move to 'A-' takes a sovereign two notches above the investment-grade floor | India's foreign exchange reserves are managed by the RBI and comprise foreign currency assets, gold, SDRs and the reserve position in the IMF

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GK ByteScapia was incorporated in 2022, is headquartered in Bengaluru, Karnataka, and was founded by Anil Goteti | Axis Bank, headquartered in Mumbai, began in 1993 as UTI Bank and was renamed Axis Bank in 2007 | RuPay is the domestic card network operated by the National Payments Corporation of India (NPCI), launched in 2012

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GK ByteICICI Bank was founded in 1994 and is headquartered in Mumbai, Maharashtra | IRDAI, the insurance regulator, was established in 1999 and is headquartered in Hyderabad, Telangana | LIC, established in 1956, is India's largest life insurer and is headquartered in Mumbai

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GK ByteThe RBI was established on 1 April 1935 under the RBI Act, 1934 and is headquartered in Mumbai; Sanjay Malhotra is the Governor | India's forex reserves have four components — Foreign Currency Assets, Gold, SDRs and the Reserve Tranche Position with the IMF | The RBI publishes weekly reserve data in its Weekly Statistical Supplement, released every Friday

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