External Debt in India increased to 736300 USD Million in the first quarter of 2025 from 717900 USD Million in the fourth quarter of 2024. This dataset provides - India External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about India External Debt

• India External Debt reached 711.8 USD bn in Sep 2024, compared with 682.2 USD bn in the previous quarter.
• India External Debt: USD mn data is updated quarterly, available from Sep 1999 to Sep 2024.
• The data reached an all-time high of 711.8 USD bn in Sep 2024 and a record low of 96.4 USD bn in Sep 2000.

Related information about India External Debt

• In the latest reports of India, Current Account recorded a deficit of 11.2 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 5.0 USD bn in Sep 2024.
• India Direct Investment Abroad expanded by 7.3 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 19.8 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 873.7 USD bn in Mar 2023.

In fiscal year 2025, the external debt to GDP ratio in India was estimated to be over ** percent. This was a slight increase compared to the previous fiscal year, when the country's external debt to GDP ratio was about **** percent.

In 2024, the national debt of India amounted to around 3.16 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

Total reserves (% of total external debt) in India was reported at 97.06 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Total reserves (% of total external debt) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

India recorded a Government Debt to GDP of 81.59 percent of the country's Gross Domestic Product in 2023. This dataset provides - India Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about India External Debt: Short Term: % of GDP

• India External Debt: Short Term accounted for 3.5 % of the country's Nominal GDP in 2024, compared with the ratio of 3.9 % in the previous year.
• India External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 1990 to 2024.
• The data reached an all-time high of 5.3 % in 2013 and a record low of 0.6 % in 2002.

CEIC calculates Short Term External Debt as % of Nominal GDP from annual Short Term External Debt and annual Nominal GDP. The Ministry of Finance provides Short Term External Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Short Term External Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India External Debt: Short Term: % of GDP

• In the latest reports of India, Current Account recorded a deficit of 11.2 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 5.0 USD bn in Sep 2024.
• India Direct Investment Abroad expanded by 7.3 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 19.8 USD bn in Sep 2024.
• India External Debt: Short Term value stood at 133.6 USD bn in Mar 2024.
• The country's Nominal GDP was reported at 873.7 USD bn in Mar 2023.

Short-term debt (% of total external debt) in India was reported at 19.53 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Short-term debt (% of total external debt) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

In financial year 2025, the reserves to debt ratio in India was estimated to be around ** percent, down from about ** percent in the previous fiscal year. The ratio of reserves to debt is an important indicator to measure the country's capacity to utilize its reserve resources in times of crisis.

External debt stocks, total (DOD, current US$) in India was reported at 646787065275 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - External debt stocks, total (DOD, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

The value of government net debt in India in March 2025 was forecasted to be over *** trillion Indian rupees, an increase from around *** trillion rupees in March 2020. The government debt is estimated to reach over *** trillion in 2030.

Key information about India Government Debt: % of GDP

• India Government debt accounted for 57.2 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 57.1 % in the previous quarter.
• India government debt to GDP ratio data is updated quarterly, available from Mar 2012 to Sep 2024.
• The data reached an all-time high of 58.8 % in Sep 2023 and a record low of 44.6 % in Dec 2018.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance provides Government Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about India Government Debt: % of GDP

• In the latest reports, India National Government Debt reached 2,144.6 USD bn in Sep 2024.
• The country's Nominal GDP reached 873.7 USD bn in Mar 2023.

India IN: External Debt: TDS: PS: Multilateral data was reported at 8.384 USD bn in 2031. This records a decrease from the previous number of 9.404 USD bn for 2030. India IN: External Debt: TDS: PS: Multilateral data is updated yearly, averaging 1.996 USD bn from Dec 1970 (Median) to 2031, with 62 observations. The data reached an all-time high of 10.569 USD bn in 2025 and a record low of 84.170 USD mn in 1971. India IN: External Debt: TDS: PS: Multilateral data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.IDS: External Debt: Debt Outstanding, Debt Ratio and Debt Service: Annual. Public sector multilateral loans include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Data are in current U.S. dollars.

Debt service on external debt, total (TDS, current US$) in India was reported at 82272602622 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Debt service on external debt, total (TDS, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

India IN: External Debt: INT: PPG: Multilateral data was reported at 2.340 USD bn in 2031. This records a decrease from the previous number of 2.663 USD bn for 2030. India IN: External Debt: INT: PPG: Multilateral data is updated yearly, averaging 564.281 USD mn from Dec 1970 (Median) to 2031, with 62 observations. The data reached an all-time high of 3.777 USD bn in 2025 and a record low of 35.701 USD mn in 1971. India IN: External Debt: INT: PPG: Multilateral data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.IDS: External Debt: Disbursements and Interest Payment: Annual. Public and publicly guaranteed multilateral loans include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Interest payments are actual amounts of interest paid by the borrower in currency, goods, or services in the year specified. Data are in current U.S. dollars.

India IN: External Debt: TDS: Debt Service: Gerneral Government Sector data was reported at 11.158 USD bn in 2031. This records a decrease from the previous number of 20.301 USD bn for 2030. India IN: External Debt: TDS: Debt Service: Gerneral Government Sector data is updated yearly, averaging 4.033 USD bn from Dec 1970 (Median) to 2031, with 62 observations. The data reached an all-time high of 23.360 USD bn in 2025 and a record low of 383.068 USD mn in 1971. India IN: External Debt: TDS: Debt Service: Gerneral Government Sector data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.IDS: External Debt: Debt Outstanding, Debt Ratio and Debt Service: Annual. General government debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term obligations of public debtors and long-term private obligations guaranteed by a public entity. Data are in current U.S. dollars.

India IN: External Debt: INT: PPG: Official Creditors data was reported at 2.878 USD bn in 2031. This records a decrease from the previous number of 3.271 USD bn for 2030. India IN: External Debt: INT: PPG: Official Creditors data is updated yearly, averaging 1.095 USD bn from Dec 1970 (Median) to 2031, with 62 observations. The data reached an all-time high of 4.482 USD bn in 2025 and a record low of 190.646 USD mn in 1971. India IN: External Debt: INT: PPG: Official Creditors data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.IDS: External Debt: Disbursements and Interest Payment: Annual. Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Interest payments are actual amounts of interest paid by the borrower in currency, goods, or services in the year specified. Data are in current U.S. dollars.

India IN: External Debt: INT: GG: Official Creditors data was reported at 2.794 USD bn in 2031. This records a decrease from the previous number of 3.165 USD bn for 2030. India IN: External Debt: INT: GG: Official Creditors data is updated yearly, averaging 932.235 USD mn from Dec 1970 (Median) to 2031, with 62 observations. The data reached an all-time high of 4.290 USD bn in 2025 and a record low of 146.735 USD mn in 1971. India IN: External Debt: INT: GG: Official Creditors data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.IDS: External Debt: Disbursements and Interest Payment: Annual. General government debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Interest payments are actual amounts of interest paid by the borrower in currency, goods, or services in the year specified. Data are in current U.S. dollars.

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

Bulgaria Gross External Debt: by Creditor: ow India data was reported at 19.400 EUR mn in Feb 2025. This records a decrease from the previous number of 19.410 EUR mn for Jan 2025. Bulgaria Gross External Debt: by Creditor: ow India data is updated monthly, averaging 18.818 EUR mn from Jan 2015 (Median) to Feb 2025, with 122 observations. The data reached an all-time high of 38.950 EUR mn in Jun 2024 and a record low of 13.092 EUR mn in Dec 2022. Bulgaria Gross External Debt: by Creditor: ow India data remains active status in CEIC and is reported by Bulgarian National Bank. The data is categorized under Global Database’s Bulgaria – Table BG.JB011: BPM6: Gross External Debt: by Creditor.