India’s external debt has surged to USD 717.9 billion by December 2024, marking a 10.7% increase from the previous year, as per the latest data released by the Finance Ministry. The rise in external debt can be attributed in part to the appreciation of the US dollar. Notably, non-government sectors, particularly non-financial corporations, have witnessed substantial growth in debt levels. Despite the increase in external debt, the debt servicing ratio has marginally declined to 6.6% from 6.7% in September 2024. This development underscores the challenges faced by the Indian economy in managing its external debt obligations. Stay tuned for more updates on India’s economic landscape.