India's external debt at $717.9 bln as on Dec 31, up 10.7% on year
This story was originally published at 20:04 IST on 28 March 2025
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--Govt: India external debt at $717.9 bln as on Dec. 31
--Govt: India external debt at $717.9 bln as on Dec. 31, up 10.7% YoY
--Govt: India external debt 19.1% of GDP as on Dec. 31
NEW DELHI – India's external debt rose 10.7% year-on-year to $717.9 billion as on Dec. 31, according to data released by the finance ministry on Friday. As a percentage of GDP, the external debt increased to 19.1% from 18.4% a year ago. At the end of September, the external debt stood at $712.7 billion, or 19.0% of GDP.
"Valuation effect due to the appreciation of the US dollar vis-a-vis the Indian rupee and other major currencies, such as yen, the euro and SDR (Special Drawing Rights) amounted to $12.7 billion during the quarter ended December 2024," the finance ministry said. "Excluding the valuation effect, the increase in external debt would have been $17.9 billion instead of $5.2 billion at end-December 2024 over end-September 2024."
Long-term debt, or debt with original maturity of over one year, made up most of India's external debt. At the end of December, long-term debt amounted to $578.3 billion, or 80.6% of the total, down from the 81.1% at the end of September. When measured in terms of the residual maturity of the debt being more than one year, long-term debt constituted 57.6% of India's total external debt at the end of December, unchanged from Sept. 30.
Dollar-denominated debt remained the largest component of India's external debt, accounting for 54.8% of it at the end of December. Rupee debt made up 30.6% and Japanese yen debt 6.1%. End
US$1 = INR 85.48
Reported by Shubham Rana
Edited by Deepshikha Bhardwaj
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