India’s external debt increased by $31 bn in 2023: World Bank

India’s total external debt has increased by $31 billion to $646.79 billion in 2023, according to World Bank International Debt Report.

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The report further said that interest payment increased from $15.08 billion in 2022 to $22.54 billion in 2023.

While the long-term debt stocks have risen 7 per cent to $498 billion in 2023, short-term debt stocks declined marginally to $126.32 billion in 2023.

According to the report, external debt stock as percentage of exports was 80 per cent, while debt servicing was 10 per cent of exports in 2023.

The World Bank International Debt Report, 2024, further said that net debt inflows during the year worked out to be $33.42 billion, while the net equity inflows was higher at $46.94 billion in 2023.