India secured a higher investment grade rating from S&P Global Ratings, which said the economy’s growth prospects won’t be derailed by President Donald Trump administration’s 50% tariff shock to the country.

India’s largest shoemaker Farida Group had already staked out the land—a 150-acre plot in southern Tamil Nadu—for a sprawling new export facility. Then came the blow from Washington: President Donald Trump announced he was doubling tariffs on Indian exports to 50 percent.

The third reason Vikas Swarup noted that India did not succumb to US pressure in trade talks to provide more access to the country's agriculture and dairy sectors, and Washington is exerting pressure tactics to get India to agree to its maximalist demands.