ArcelorMittal lists India's high public debt as risk factor for investments

India's public debt at 89.3% of GDP is one of the highest among EMs

India’s rising public debt has begun to cause some discomfort to some big foreign investors. ArcelorMittal — the world’s top steelmaker — has listed India’s high public debt as a risk factor in its latest annual report.

“Other countries at risk of further economic crises inc­lude, for example, South Africa (in relation to its public debt), Ukraine (in relation to its external debt), and to a lesser extent India (in relation to its public debt),” wrote Arcelor­Mittal in its annual report for Calendar Year 2020 (CY20), while listing out potential economic risks to its global operations. The steel multinational acquired Hazira-based