India's External Debt Hits Record $762.8 Billion as Debt-to-GDP Ratio Rises to 20.8%
Updated
Updated · India West · Jun 30
India's External Debt Hits Record $762.8 Billion as Debt-to-GDP Ratio Rises to 20.8%
3 articles · Updated · India West · Jun 30
Summary
$762.8 billion in external debt at end-March 2026 marked a $26.3 billion rise from a year earlier, taking India’s debt-to-GDP ratio up to 20.8% from 19.8%.
RBI said non-government borrowing increased while government debt fell, and a $24.6 billion dollar-valuation effect masked a bigger underlying jump—without it, external debt would have risen by $51 billion.
$613.5 billion of the total was long-term debt, but short-term debt’s share climbed to 19.6% of total debt and 21.6% of foreign-exchange reserves, both higher than a year earlier.
Debt-service pressure still eased, with principal and interest payments dropping to 5.8% of current receipts from 6.6%, even as non-financial companies remained the biggest borrower group at 36.4% of total external debt.