India's External Debt Surges to USD 646.79 Billion

India's external debt has risen by USD 31 billion, reaching USD 646.79 billion in 2023. The World Bank report highlights a rise in interest payments and long-term debt, alongside a slight decline in short-term debt. Notable statistics include an 80% debt-to-export ratio and increased net debt and equity inflows.

India's total external debt has soared to USD 646.79 billion in 2023, marking an increase of USD 31 billion, as detailed in the latest World Bank International Debt Report.

The report indicates a significant rise in interest payments, from USD 15.08 billion in 2022 to USD 22.54 billion in 2023. While long-term debt has increased by 7% to USD 498 billion, short-term debt shows a slight decline to USD 126.32 billion this year.

Moreover, the report outlines that external debt stock is 80% of exports, and debt servicing accounts for 10% of exports. In 2023, net debt inflows stood at USD 33.42 billion, with net equity inflows notably higher at USD 46.94 billion.

(With inputs from agencies.)