India's Q1 2024 external debt rose to $663.8bn, a 6% increase, while debt-to-GDP ratio decreased to 18.7%.
India's external debt rose to $663.8 billion in Q1 2024, a 6% increase from the previous year. The external debt-to-GDP ratio declined to 18.7% from 19%. The valuation effect due to currency appreciation contributed to the containment of external debt by 1 percentage point. Foreign liabilities increased due to inward portfolio investments, direct investments, and loans, while overseas assets increased more than liabilities, primarily due to a rise in reserve assets.
June 25, 2024
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