FX.co ★ India's External Debt Hits Record High in June

India’s external debt rose by USD 15.4 billion during the quarter to reach a record high of USD 778.2 billion at the end of June 2026, surpassing the previous peak of USD 767.3 billion recorded in December 2025. Long-term debt—defined as obligations with an original maturity of more than one year—stood at USD 624.7 billion, up USD 11.2 billion from the previous period. Short-term debt also increased, rising by USD 4.3 billion to USD 153.5 billion, with its share in total external debt inching up to 19.7% from 19.6%.

The outstanding external debt of the general government climbed by USD 6.8 billion to USD 174.3 billion. Non-government external debt also expanded, driven primarily by higher borrowing by corporations (up USD 3.4 billion to USD 281.2 billion) and deposit-taking institutions (up USD 1.7 billion to USD 203.8 billion).