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<h1>External debt sustainability remains intact as stock and commercial borrowing rise but ratios and coverage show manageability.</h1> India's external debt stock rose to US$305.9 billion at end March 2011 but remained manageable: external debt to GDP was 17.3% and debt service ratio 4.2%. The composition shifted toward commercial borrowings and short term trade credits while long term debt continued to account for the majority of stock. Sovereign external debt comprised about one quarter of total debt. The Report links improved indicators to prudent debt management-monitoring maturities, securing concessional long term sovereign loans, and regulating external commercial borrowings.