India’s External Debt at US$ 778.2 Billion, End-June 2026
Why in the news
The RBI released quarterly data on 30 September 2026 showing India’s external debt at US$ 778.2 billion at the end of June 2026. This is US$ 15.4 billion higher than at end-March 2026.
Key facts
- The external debt to GDP ratio was 20.8%, slightly lower than 20.9% in March 2026.
- The US dollar remained the biggest currency component at 54.8%; the Indian rupee accounted for 29.8%.
- Long-term debt (original maturity above one year) was US$ 624.7 billion, and short-term debt was US$ 153.5 billion (19.7%).
- The debt service ratio was steady at 5.6% of current receipts.
- A valuation gain of US$ 0.9 billion came from dollar appreciation against currencies such as the yen and euro.
Composition
| Currency | Share |
|---|---|
| US dollar | 54.8% |
| Indian rupee | 29.8% |
| Japanese yen | 6.9% |
| SDR | 4.1% |
| Euro | 3.5% |
By instrument, loans were the largest component at 34.3%, followed by currency and deposits at 22.2%, trade credit and advances at 19.1% and debt securities at 16.5%. Non-financial corporations held the biggest sector share at 36.1%.
About external debt
External debt is the outstanding amount owed by residents to non-residents that must be repaid in currency, goods or services. The RBI publishes the data quarterly. Residual short-term debt, due within 12 months, was 43.4% of the total and 50.5% of foreign exchange reserves.
Exam angle
- Remember the headline figure of US$ 778.2 billion and the ratio of 20.8%.
- The dollar is the dominant currency in the debt mix, with the rupee second.
- Short-term debt is defined by original maturity of one year or less.