India's external debt rises to $376 billion
New Delhi: India's total external debt was USD 376.3 billion as of December end, up 8.9 percent from March, on account of long-term and short-term components.
"At end-December 2012, India's total external debt stock stood at USD 376.3 billion, reflecting an increase of USD 30.8 billion (8.9 percent) over the level of USD 345.5 billion at end-March 2012," an official statement said Wednesday.
Increase in long-term debt was mainly on account of NRI deposits and commercial borrowings, while short-term debt stood higher on account of trade related credits, it said.
Long-term debt, which accounted for 75.6 percent of total external borrowings, stood at USD 284.4 billion at end-December 2012, up 6.4 percent over March 2012.
Within long-term, commercial borrowings accounted for 30 percent of total external debt, followed by NRI deposits at 18 percent and multilateral debt at 13.7 percent.
Short-term debt, comprising 24.4 percent of the external debt, increased by 17.5 percent from end-March to USD 91.9 billion as of December 31, 2012.
Also, external-debt to GDP ratio stood at 20.6 percent as of December 31, 2012 versus 19.7 percent as of March 31, 2012.
Debt denominated in US dollars was the highest in external debt stock at 56.8 percent as of December 2012, followed by Indian rupee (23.1 percent), SDR (7.9 percent), Japanese yen (7.6 percent) and euro (3.2 percent), it added.
Also, government (sovereign) external debt stood at USD 81.7 billion, (21.7 percent of total external debt) at end-December 2012 as against USD 81.9 billion (23.7 percent) at end-March 2012.