<h1>India's External Debt Hits $334.9 Billion in Dec 2011, Up 9.4% Since March; Short-Term Debt Climbs to 23.3.</h1> At the end of December 2011, India's external debt reached $334.9 billion, marking a 9.4% increase from March 2011. This rise was primarily due to higher commercial borrowings and short-term trade credit. Long-term debt was $256.9 billion, while short-term debt increased to $78.1 billion. Short-term debt comprised 23.3% of the total, with commercial borrowings being the largest component at 29.9%. Government debt was $81.2 billion. The US dollar dominated the debt currency composition at 56.9%. The external debt to GDP ratio rose to 20%, and foreign exchange reserves covered 88.6% of the debt.