India’s external debt climbs to $717.9 billion by December 2024

India’s external debt reached USD 717.9 billion by December 2024, up 10.7% from the previous year, according to the Finance Ministry. The rise is partly due to US dollar appreciation. Non-government sectors, especially non-financial corporations, saw significant increases in debt. The debt servicing ratio slightly decreased to 6.6% from 6.7% in September 2024.

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