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India's External Debt Reaches USD 717.9 Billion by December 2024.

Banking & Finance | Dated: 02 Apr 2025

At the end of December 2024, India's external debt reached USD 717.9 billion (bn), reflecting a 10.7% increase from USD 648.7 billion in December 2023, according to "India's Quarterly External Debt Report" released by the Ministry of Finance (MoF).

🎯 Key Highlights:

- The external debt rose by 0.7% on a quarterly basis, from USD 712.7 billion in September 2024. By December 2024, the external debt-to-Gross Domestic Product (GDP) ratio stood at 19.1%, slightly higher than 19% in the previous quarter.
- The valuation effect, due to the appreciation of the US dollar against the rupee and other major currencies like the yen, euro, and Special Drawing Rights (SDR), accounted for USD 12.7 bn during the quarter ended December 2024.
- While the central government's external debt declined, the non-government sector saw an increase.

💡 Other Important Facts:

(i) Among non-government sectors, non-financial corporations held the largest share at 36.5%, followed by deposit-taking corporations (excluding the central bank) at 27.8%.
(ii) The central government held 22.1%, and other financial corporations accounted for 8.7%.

📚 Test Your Knowledge:

According to the recently released report by the Ministry of Finance, India's external debt reached which amount by December 2024?

Correct Answer: USD 717.9 billion

🚀 Quick Recap:

About Ministry of Finance (MoF)

Union Minister : Nirmala Sitharaman
Headquarters : New Delhi