<h1>India's External Debt Hits $155 Billion in 2007, Rising by $28.5 Billion, Driven by Commercial Borrowings and Currency Changes.</h1> India's external debt reached US$155 billion as of March 31, 2007, representing 16.4% of GDP, with a US$28.5 billion increase over the year. The rise was partly due to currency valuation changes. Commercial borrowings contributed 56% of the increase, followed by NRI deposits, short-term debt, and multilateral debt. Sovereign debt was US$48.6 billion, making up 31.4% of the total. The debt service ratio improved significantly, while other indicators showed mixed trends. India's external debt to Gross National Income ratio was low compared to other developing countries, and the concessional loan component was the highest among the top ten indebted nations.