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Can India Have its Own Rating Agencies?

India must take a cue from China and can have its own rating agencies instead of banging the head convincing the overseas rating agencies which works as per whims and fancies and also at times are showing favouritism.

How can Indian economy be clubbed in league with Tunisia as has happened in present downgrade of Indian economy from stable to negative by Moody. Tunisia is a war ravaged torn country and India a force to reckon with in times to come.

It is high time we have our own system in place and let world take cues from our rating agencies. Thus the moral of the whole story is that we should not be paying too much attention to abroad rating agencies and work on developing our own financial systems which are strong and do not buckle under pressure.

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