India’s external debt has surged to USD 717.9 billion by December 2024, marking a 10.7% increase from the previous year, as reported by the Finance Ministry. This rise can be attributed in part to the appreciation of the US dollar. Notably, non-government sectors, particularly non-financial corporations, witnessed substantial growth in debt levels. Despite the escalating debt figures, the debt servicing ratio experienced a slight decline to 6.6% compared to 6.7% in September 2024. The latest data reflects the ongoing challenges and opportunities faced by the Indian economy amidst global economic fluctuations.