What more can India do to win over the Big Three sovereign rating agencies?

A high sovereign credit rating can raise a country's star among the global investor community; a low rating, indicating doubts over ability to repay debts, increases its financing costs

The G20 summit over the weekend made news for those who came and a bit for those who did not. However, the two leaders who made news for not coming — Russia’s Vladimir Putin and China’s Xi Jinping — were present at the Brics summit in Goa in October 2016.

That was when the five-nation grouping explored setting up an independent credit rating agency. It was an attempt to break out of the global sovereign rating market controlled by the Big Three — S&P, Fitch, and Moody’s — all based in the United States.

Brics, short for Brazil, Russia, India, China, and