Finance minister said India had taken several measures to make markets attractive.
The downgrade reflects its opinion that the fiscal consolidation plan which Congress and the administration recently agreed to "falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics."
Gandhi also attacked Prime Minister Narendra Modi over the economic situation in the country, saying the PM should get his head "out of the sand" to deal with the problem facing the country.
Nine Indian Americans among Outstanding 50 Asian Americans in Business this year.
S&P warned about spending on subsidies and heavy government debt.
NPA percentage in loans may touch 10% by March 2013, up from 5% in March 2011.
The political fall-out of the US downgrade is not over. Republicans and Democrats are both trying to pin the blame on the other party, displaying their great skill in spinning news to score partisan political points.
The US political system might not be as broke as some thought but the deal came a bit too late to allay apprehensions.
Out of 200-odd countries, just 16 nations have the coveted triple-A rating.
There is an Indian at the helm of affairs surrounding the historic downgrade of the United States' creditworthiness, as ratings agency S&P's unprecedented move was taken under the leadership of Deven Sharma.
With the downgrade there is a danger that investors who hold these financial securities may sell out. Of course, the level of selling will depend on the way the investors react to this downgrade.
In a report on the rupee's depreciation, S&P said, "Revenue for companies that export and operate overseas would rise, because they would get more rupees for the goods and services they sell."
The CreditWatch action follows Vedanta's announcement that it would acquire a controlling stake in India-based oil and gas company Cairn India Ltd.
The much-advertised hunger for success among the denizens of India's tier-II and tier-III cities has been the big story of the past decade. How relevant is it to memorize Ampere's Law, Charles's Law and the dates of the battles of Panipat in this brave new world?
India had time to plan and improve its competitiveness and infrastructure. Yet it chose not to. And for that we need to blame our government, says M R Venkatesh.
India's gross public debt to GDP ratio fell from 75.8 per cent to 66.2 per cent.
This could lead to an unprecedented bloodbath in the global financial markets.
Investors say stocks to drift further, but impact of rating downgrade may be short-term.
Credit rating agency Standard & Poor's has said it might not downgrade India's sovereign credit rating further, after the government announced plans to reduce the gap between income and expenditure
Index products like fixed-income, volatility and weather to broaden basket for hedging.
India has emerged as the brightest spot in the Asia Pacific region as reform has picked up pace in the country in recent months, a top credit rating agency has said.
The global rating agencies S&P and Moody's have downgraded the credit ratings for several government-related entities in Dubai on fears about the government's failure to provide timely financial support to them.
We expect the region to record another year of solid growth in 2011, the survey said.
A 4-year study of nearly 300 companies listed on the National Stock Exchange of India found evidence of a positive and significant relationship between corporate governance practices and company performance, S&P said on Wednesday.
Factoring in the government's push to improve its finances and higher growth, Standard & Poor's today revised the outlook on India's sovereign credit rating to stable from negative. At the same time, it warned that high inflation could spoil the party. The agency affirmed the 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India.
Subir Gokarn, Executive Director and Chief Economist at Standard & Poor's Asia Pacific, is heading the shortlist of candidates for the Reserve Bank of India Deputy Governor's post. Gokarn is also a Business Standard columnist.
Rating agency Standard & Poor's on Tuesday said fiscal pressures would weigh on India's credit quality. In a report released today, the agency said that a resumption of a timely and sustainable fiscal consolidation plan that resulted in lower debt and interest burden, and further reforms to boost economic growth could improve India's sovereign ratings.
Indian economy has clocked a growth of 8.7 per cent in the first half of the calendar year. It said strong farm production will help drive economic recovery and also bring down food inflation, even though it said, 'inflation remains worrying.'
The agency had earlier said that the economy would grow at the rate of 5.8 per cent. In a teleconference, S&P said the revision was occasioned because of the positive policy responses by the country and improving global conditions, despite the deficient rains and lurking swine flu.
The downturn in commodities and oil refining, stemming from global economic slowdown, has affected profitability. This is expected to weaken the company's cash flow measures, S&P said.
Nearly 200 people were killed and about 350 injured in a spate of terror attacks that rocked the commercial capital for three days, exposing the vulnerability of the world's largest democracy to terrorist operations. Experts said those sectors like tourism, hospitality and automobile may also feel the heat of the negative sentiments after the recent attacks but is likely to regain the momentum in the short to medium term in line with the improving domestic situations.
Growth in the Asia-Pacific region will be low, the aqency said
Leading economists on Friday called for more fiscal measures to sustain the Indian growth story.
After revising the sovereign outlook for India from stable to negative, Standard & Poor's Director for Sovereign and International Public Finance ratings Takahira Ogawa says the fiscal position holds the key to future course of action.
According to rating agency Standard & Poor's, about 46 global equity markets lost a combined $17 trillion, as emerging market indices fell 54.72 per cent and developed markets dropped 42.72 per cent for the year. However, the equity markets somewhat rebounded in December last year with 19 of the 21 emerging markets and 22 of the 25 developed markets posting gains during the month, S&P added.
According to Standard & Poor's index services monthly global stock market review, global equity markets after three months of consecutive gains declined 0.58 per cent in June with emerging markets giving negative returns of 1.45 per cent. Indian stock markets gave the highest returns of as much as 60.6 per cent in the three months period between April to June, despite witnessing a loss of 2.17 per cent in the month of June.
Global rating agency Standard & Poor's on Friday reaffirmed investment grade ratings 'BBB-'long-term and 'A-3' short-term on India, saying the country's economic growth prospects and debt markets are strong. The 'BBB' rating category means an entity has adequate capacity to meet its financial commitments in the long-term.
The 'S&P India 10 index' is designed to address this accessibility challenge. It offers investors liquidity and investability, and can also serve as a basis upon which to create investment products," Vice President of Portfolio Services for S&P Steven Goldin said.
Global rating agency Standard & Poor's on Tuesday said tight monetary policy to tame rising inflation will slow down India's growth a bit to 7.5-8 per cent in 2008 and expressed concern about the worsening fiscal situation.
Describing its choice as a "vote for the future", a distinguished four-member jury selected State Bank of India (SBI) Chairman Om Prakash Bhatt as Business Standard's Banker of the Year for 2006-07.
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