( MENAFN - IANS) New Delhi, Aug 14 (IANS) Citing economic resilience and sustained fiscal consolidation, global credit ratings agency S&P Global on Thursday upgraded India's long-term unsolicited sovereign credit rating to "BBB" from the earlier "BBB-", ahead of the 79th Independence Day. In a note, S&P Global said the stable outlook reflects continued policy stability and high infrastructure investment, which are set to boost India's long-term growth. "That, along with cautious fiscal and monetary policy that moderates the government's elevated debt and interest burden, will underpin the rating over the next 24 months," the rating agency said. The short-term rating on India has also been revised to A-2 from A-3 earlier, and the transfer and convertibility assessment has been revised to A- from BBB+. The impact of US tariffs on India will likely be manageable, with sound economic fundamentals expected to support the country's growth momentum over the next two to three years, according to the note.