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India's external debt rises to $613.1 billion as of end-Dec - Govt

Published 03/31/2023, 05:50 AM
Updated 03/31/2023, 05:56 AM
© Reuters. FILE PHOTO: Police officers use their sniffer dog to scan the steps as a giant flag is installed on a part of the historic Victoria Memorial monument during India's Independence Day celebrations in Kolkata, India, August 15, 2021. REUTERS/Rupak De Chowdhu

(Reuters) - India's external debt rose 1.2% quarter-on-quarter to $613.1 billion as of end-December, the government said in a statement on Friday.

The country's external debt-to-GDP ratio stood at the same level as the September quarter at 19.1%.

The valuation loss in September-December, due to depreciation of the U.S. dollar against other major currencies such as yen, euro and UK pound was $3.8 billion, the statement said.

© Reuters. FILE PHOTO: Police officers use their sniffer dog to scan the steps as a giant flag is installed on a part of the historic Victoria Memorial monument during India's Independence Day celebrations in Kolkata, India, August 15, 2021. REUTERS/Rupak De Chowdhuri

The share of short-term debt, with maturity of up to one year, in total external debt increased marginally to 21.1% as of end-December 2022, from 21% as of September 2022.

Earlier this month, Reserve Bank of India Governor Shaktikanta Das said India's total external debt is well within manageable limits.

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