<h1>India's External Debt Hits $480.2 Billion by December 2015, Driven by Long-Term Debt Despite Short-Term Decline.</h1> India's external debt at the end of December 2015 was US$ 480.2 billion, marking a 1.0% increase from March 2015. This rise was driven by long-term debt, particularly commercial borrowings and NRI deposits. However, there was a US$ 1.2 billion sequential decline from September 2015. Long-term debt was US$ 398.6 billion, while short-term debt decreased to US$ 81.6 billion. Government debt was US$ 90.7 billion, and non-Government debt was US$ 389.5 billion. The US dollar dominated the debt composition at 57.6%. Foreign exchange reserves covered 73% of the debt, with short-term debt to reserves ratio at 23.3%.