'India deserves a ratings upgrade,' Aberdeen calls

Mumbai

INDIA trailing Spain on the sovereign ratings tables makes no sense to Aberdeen Asset Management Plc, which calls the delay in acknowledging the Asian economy's improving outlook staggering.

With India "isolated" and less threatened by possible protectionist measures by US President Donald Trump, Aberdeen is overweight on the country and its local companies, said Hugh Young, the firm's Singapore-based Asia managing director, who helps oversee assets of US$400 billion.

"We are not in wait-and-see mode anymore," Mr Young said in an e-mailed response to questions. "Even though it is still relatively early days, the economy has transitioned, we are already seeing significant improvement and the groundwork has been laid for even stronger performance ahead. To not acknowledge that the outlook has i…