India's External Debt rises to US$ 455.9 billion at End September 2014

India's foreign exchange reserves provided a cover of 68.9% to the total external debt stock at end-September 2014

India's External Debt Stood at US$ 455.9 Billion, recording an increase of US$ 13.7 billion (3.1%) over the level at end-March 2014. The rise in external debt during the period was due to long-term external debt particularly commercial borrowings and NRI deposits.

Long-term debt was US$ 369.5 billion at end-September 2014, showing an increase of 4.7% over the end-March 2014 level, while short-term debt declined by 3.2% to US$ 86.4 billion.

Short-term debt accounted for 18.9% of India's total external debt at end-September 2014, while the remaining (81.1%) was long-term debt. Component-wise, the share of commercial borrowings stood highest at 35.4% of total external debt, followed by NRI deposits (23.8%) and multilateral debt (11.7%).

Government (Sovereign) external debt stood at US$ 88.4 billion, (19.4% of total external debt) at end-September 2014 against US$ 81.5 billion (18.4%) at end-March 2014.

The share of US dollar denominated debt continued to be the highest in external debt stock at 60.1% at end-September 2014, followed by the Indian rupee (24.2%), SDR (6.5%), Japanese yen (4.5%), and euro (3.0%).

The ratio of concessional debt to total external debt was 9.8% at end-September 2014 as compared to 10.5% at end-March 2014.

India's foreign exchange reserves provided a cover of 68.9% to the total external debt stock at end-September 2014 against 68.8% at end-March 2014.

The ratio of short-term external debt to foreign exchange reserves was at 27.5% at end-September 2014 as against 29.3% at end-March 2014.

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