India's external debt rises by 2.1% to  $570 billion in FY21

India’s external debt rose by 2.1 per cent to $570 billion in March-end 2021 as compared to a year ago.

The external debt to GDP ratio increased to 21.1 per cent at March-end 2021 from 20.6 per cent at March-end 2020.

At March-end 2021, long-term debt was placed at $468.9 billion, recording an increase of $17.3 billion over its level a year ago.

Short-term debt decreased by 5.4 per cent to $101.1 billion at end of March 2021 as compared to $106.9 billion as of March 2020.

Commercial borrowings remained the largest component of external debt, with a share of 37.4 per cent, followed by non-resident deposits (24.9 per cent) and short-term trade credit (17.1 per cent).