NEW DELHI – India’s April-June external debt rose 3% to $485.8 billion from the January-March quarter due to an increase in foreign investment inflows into debt markets, the Reserve Bank of India (RBI) said on Friday.
Meanwhile, the external debt to gross domestic product stood at 20.3% at the end of June, up slightly from 20.2% at the end of March, the RBI added.
On a residual maturity basis, short-term debt constituted 41.1% of total external debt at the end of June, down from 41.5% at the end of March.
Indian economy has been facing a sluggish trend recently after the recent reforms announced by the Narendra Modi government.