Fitch keeps India's sovereign rating BBB‑, citing high debt, modest growth, and looming U.S. tariffs.

• Debt projected at 81.5% of GDP by FY2026, well above the 59.6% median for ratings.
• Real growth expected 6.5% in FY2026, unchanged from FY2025, despite tariff risks and possible slowdown.
• GST reforms could boost consumption, offsetting trade tensions and supporting domestic demand and investment overall.