Introduction of the technique of analyzing and classifying public and official services on the basis of their temperament and code of conduct aids to the evolution of a developing economy. India is at the peak of its economical rise which brings in the necessity of a body responsible for quality control in the private sector.

Credit rating agencies facilitate their clients with service of arbitrating and grading their endeavors entailed towards developing their industry. Facilitation of grading the enterprises dedicated towards public services, directly or indirectly, helps build a link of faith and trust between the beneficiary and the enterprises providing the facility. Grading services for various sectors of service providers are available which range from grading a primary institution to hospitals with wings of several medical dispensations.

Credit rating is a great tool to enhance a venture. Various enterprises providing similar services get into a positive competition to increase their grades and thus evolve to a level of global competence. Grading of a venture discloses its strengths and weaknesses otherwise gone unnoticed.

Small scale industries can benefit the most using this discrete service. Grading scheme is expected to encourage small scale industries to move forward in the direction of strict quality control. It is obvious that grading leads to up-gradation of technological advancement and management of an industry. Small scale industries increase their productivity and hence contribute in stabilizing a developing economy. It also leads to an undeniable circumstance of increase in acceptability in market, of a specific industry.

Benefits of hiring a credit rating agency can be further made clear by this example. Suppose a solar power generation company hires a credit rating agency to arbitrate and grade the company on the basis of its mod us operand. The grading agency analyzes every aspect of the company from technological to managerial and financial, creates a report within a few days and discloses the results to the responsible authorities. The facts which might come up in the report may be relevant to both the technological and management wing which might need some amendments. Say there is an excess of old and less efficient machinery which can be replaced by a single technological advancement.

Credit rating agencies are a boon for the small scale industries. They generally charge a fixed percentage of the setup being analyzed and develop credit reports in less than a month.

Credit rating agencies have a long way to go in the most promising potential market of India. But it's worth mentioning that their prelude has been well paced and promising.