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    <title>India&#039;s foreign debt jumps 10 pc to USD 736.3 bn; external debt-to-GDP also rises</title>
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    <description>External debt rose to USD 736.3 billion at end-March 2025, lifting the debt-to-GDP ratio to 19.1 per cent; a US dollar valuation effect partly explains the increase. Borrower composition is led by non-financial corporations, the government, and deposit-taking corporations. Long-term debt constitutes the majority while the share of short-term debt declined although the short-term debt to foreign exchange reserves ratio increased. Dollar-denominated liabilities are the largest currency exposure and loans are the largest instrument category.</description>
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