.jpg)
RBI Data: India’s External Debt Rises to $778.2 Billion, Short-Term Debt Ratio Edges Up
Reserve Bank: According to Reserve Bank of India data, India's external debt increased by $15.4 billion to $778.2 billion in the June 2026 quarter. The debt-to-GDP ratio declined slightly. Let's explore this in detail.
As per the data published by the Reserve Bank of India (RBI) on Wednesday, the external debt position of India went up by $15.4 billion at the end of June 2026 quarter to $778.2 billion. This rise is witnessed when compared to the March quarter figures.
Nevertheless, the external debt-to-GDP ratio fell from 20.9 percent to 20.8 percent during March 2026 to June 2026. As a consequence of appreciation of the US dollar, there was a valuation effect of $0.9 billion against other currencies such as yen and euro. As per RBI, the rise in external debt would have been $16.4 billion if the valuation effect had not occurred.
The long-term debt with an original maturity of over one year was $624.7 billion in June quarter, rising from $613.5 billion in March 2026. Short-term debt with an original maturity of up to one year constituted 19.7 percent of total external debt, increasing from 19.6 percent in the previous quarter. The ratio of short-term debt to foreign exchange reserves was higher by 1.4 percent to 23 percent in June 2026, from 21.6 percent in March 2026. There was an increase in outstanding debt both of the government and non-government sectors at the end of June 2026.
