look news india
India’s foreign debt: India’s foreign debt has increased by $31 billion to $646.79 billion in 2023. This has been revealed in the International Debt Report of the World Bank. With the increase in external debt, the interest burden is also expected to increase from $15.08 billion in 2022 to $22.54 billion in 2023. According to the World Bank report, the share of long-term debt has also increased by 7 percent to $498 billion. Whereas short term debt has decreased. It has become 126.32 billion dollars. The share of foreign debt stock in total exports in 2023 was 80 percent, while the share of debt service exports was 10 percent.
Net credit flow $33.42 billion
The World Bank’s International Debt Report 2024 states that net debt inflows during the year 2023 stood at $33.42 billion, while net equity inflows stood at $46.94 billion.
India’s GDP strong
India has been continuously increasing its foreign exchange reserves for the last few years. The Reserve Bank currently has foreign exchange reserves of more than $640 billion. The World Bank estimates that India’s GDP growth will remain strong at 7 percent in 2025 despite global challenges and the impact of the pandemic issues. The global lender said in its bi-annual India growth update that external risks matter for the outlook. In particular, factors such as geopolitical crises, commodity prices and effects on supply chains can affect GDP and inflation. Due to rising inflation around the world, interest rates may remain high for a long time. There is a fear that the loan EMI will be affected.
