External debt stocks in India
India: External debt stocks was 18.6% in 2024. ▲ Rising
External debt stocks in India, 1970–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of GNI.
Analysis
The most recent figure for external debt stocks in India is 18.6%, measured in 2024.
That represents a change of up 3.0% on the previous year and down 18.2% over ten years.
Over the whole period, external debt stocks in India peaked at 33.2% in 1993 and was at its lowest, 11.1%, in 1980.
India ranks 107th of 121 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 55 years of available data.
External debt stocks in India, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 13.6% | — |
| 1971 | 13.9% | +2.6% |
| 1972 | 14.1% | +1.3% |
| 1973 | 12.9% | -8.7% |
| 1974 | 12.8% | -0.6% |
| 1975 | 14.1% | +10.3% |
| 1976 | 14.2% | +0.8% |
| 1977 | 12.7% | -10.7% |
| 1978 | 12.0% | -5.3% |
| 1979 | 11.9% | -1.4% |
| 1980 | 11.1% | -6.6% |
| 1981 | 11.6% | +4.7% |
| 1982 | 13.5% | +15.9% |
| 1983 | 14.1% | +4.7% |
| 1984 | 15.5% | +10.1% |
| 1985 | 16.8% | +8.4% |
| 1986 | 18.1% | +7.8% |
| 1987 | 19.3% | +6.3% |
| 1988 | 20.2% | +4.7% |
| 1989 | 25.2% | +24.7% |
| 1990 | 26.4% | +4.6% |
| 1991 | 31.9% | +21.1% |
| 1992 | 30.9% | -3.0% |
| 1993 | 33.2% | +7.2% |
| 1994 | 30.3% | -8.6% |
| 1995 | 26.3% | -13.1% |
| 1996 | 24.1% | -8.3% |
| 1997 | 22.8% | -5.5% |
| 1998 | 23.5% | +3.2% |
| 1999 | 21.9% | -6.9% |
| 2000 | 21.8% | -0.4% |
| 2001 | 20.7% | -5.3% |
| 2002 | 20.7% | -0.0% |
| 2003 | 19.7% | -4.7% |
| 2004 | 17.6% | -10.9% |
| 2005 | 14.9% | -15.3% |
| 2006 | 17.1% | +14.9% |
| 2007 | 16.8% | -1.5% |
| 2008 | 19.1% | +13.2% |
| 2009 | 19.2% | +0.8% |
| 2010 | 17.5% | -8.8% |
| 2011 | 18.5% | +5.6% |
| 2012 | 21.7% | +17.5% |
| 2013 | 23.3% | +7.2% |
| 2014 | 22.7% | -2.6% |
| 2015 | 23.0% | +1.4% |
| 2016 | 20.1% | -12.8% |
| 2017 | 19.5% | -2.9% |
| 2018 | 19.5% | -0.1% |
| 2019 | 20.0% | +2.5% |
| 2020 | 21.4% | +7.2% |
| 2021 | 19.6% | -8.7% |
| 2022 | 18.7% | -4.6% |
| 2023 | 18.0% | -3.3% |
| 2024 | 18.6% | +3.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 13.2% | 11.9% | 14.2% | 10 |
| 1980s | 16.5% | 11.1% | 25.2% | 10 |
| 1990s | 27.1% | 21.9% | 33.2% | 10 |
| 2000s | 18.8% | 14.9% | 21.8% | 10 |
| 2010s | 20.6% | 17.5% | 23.3% | 10 |
| 2020s | 19.2% | 18.0% | 21.4% | 5 |
Countries ranked near India
- 104 Guyana 22.6% compare
- 105 Bangladesh 22.3% compare
- 106 Afghanistan 19.9% compare
- 108 Democratic Republic of Congo 18.3% compare
- 109 Azerbaijan 17.0% compare
- 110 Russia 16.8% compare
More economy & growth data for India
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 5.66 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.5 Percent per annum (2029)
- Industry (including construction), value added (constant 2015 US$) 8.78 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.2575 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 695.86 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 8.78 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 22.07 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 59,646 constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 8.19 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.4934 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is external debt stocks in India?
- External debt stocks in India was 18.6% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest external debt stocks recorded in India?
- The highest recorded value was 33.2% in 1993.
- What is the lowest external debt stocks recorded in India?
- The lowest recorded value was 11.1% in 1980.
- How does India rank for external debt stocks?
- India ranks 107th out of 121 countries with data for 2024.
- Is external debt stocks rising or falling in India?
- Over the last ten years it is down 18.2%. The long-run trend across the full record is rising.
- Where does this India data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of External debt stocks (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.