India's external debt rises by USD 31 bn to USD 647 bn in 2023: World Bank report

India's total external debt has increased by USD 31 billion to USD 646.79 billion in 2023, according to World Bank International Debt Report.

The report said that interest payment increased from USD 15.08 billion in 2022 to USD 22.54 billion in 2023.

While the long-term debt stocks have risen 7 per cent to USD 498 billion in 2023, short-term debt stocks declined marginally to USD 126.32 billion in 2023.

According to the report, external debt stock as percentage of exports was 80 per cent, while debt servicing was 10 per cent of exports in 2023.

The World Bank International Debt Report, 2024, further said that net debt inflows during the year worked out to be USD 33.42 billion, while the net equity inflows were higher at USD 46.94 billion in 2023.