India’s External Debt as at the end of March 2007
Legal Corner Icon — the image was hosted by the publisher and was not captured.++ India’s external debt at end-March 2007 increased by US $ 28.6 billion over the end-March 2006 level to reach a level of US $ 155.0 billion.
++ The positive valuation impact reflecting the depreciation of the US dollar vis-à-vis other major international currencies has added to the outstanding debt stock
++ Among the various components of external debt, external commercial borrowings (ECBs) at US $ 42.8 billion have recorded a significant increase of 59.2 per cent followed by trade credit and NRI deposits.
++ Multilateral and bilateral debt witnessed moderate increase.
++ Short term trade credit has witnessed a sharp increase of US $ 3.3 billion (37.7 per cent) underpinned by growth in imports during the year.