On June 30, 2023, the Reserve Bank of India has published the quarterly data of external debt of India art the end of March 2023.
- At end March 2023, India’s external debt was placed at US$ 624,7 billion, recording an increase of USS 5.6 billion over its level at end-March 2022.
- The external debt to GDP ratio declined to 18.9 per cent at end-March 2023 from 20.0 per cent at end- March 2022.
- At end-March 2023, long-term debt (with original maturity of above one year) was placed at US$ 496.3 billion, recording a decline of US$ 1.1 billion over its level at end-March 2022.
- The share of short-term debt (with original maturity of up to one year) in total external debt increased to 20.6 per cent at end March 2023 from 19.7 per cent at end-March 2022.
- Similarly, the ratio of short-term debt (original maturity) to foreign exchange reserves increased to 22.2 per cent at end-March 2023 (20.0 per cent at end-March 2002).
- US dollar denominated debt remained the largest component of India’s external debt, with a share of 54.6 per cent at end-March 2023, followed by debt denominated in the Indian rupee (29.8 per cent), SDR (6.1 per cent), yen (5.7 per cent), and the euro 0.2 per cent).
- The share of outstanding debt of non-financial corporations in toral external debt was the highest at 38.9 per cent, followed by deposit-taking corporations (except the central bank) (25.7 per cent), general government (21.3 per cent) and other financial corporations (9.3 per cent).
- Loans remained the largest component of external debt, with a share of 32.5 per cent, followed by currency and deposits (22.6 per cent), trade credit and advances (19.9 per cent) and debt securities (16.7 per cent).