India's External Debt reaches $624.7 billion in End-March 2023

* India's external debt has increased marginally to $624.7 billion annually in end-March 2023, although the debt-GDP ratio declined.

* The external debt increased by $5.6 billion from $619.1 billion at end-March 2022.

* Valuation gains due to the appreciation of the US dollar compared to the Indian rupee and major currencies were placed at $20.6 billion.

* Excluding the valuation effect, external debt would have increased by $26.2 billion instead of $5.6 billion in March 2023.

Source : Moneycontrol