India's external debt increases 2.63% to $543 billion at March-end

India's external debt increased 2.6 per cent to $543 billion at end-March 2019, primarily on account of a rise in short-term debt, commercial borrowings and non-resident Indian (NRI) deposits, the RBI said Friday.

The increase in external debt was partially offset by valuation gain resulting from the appreciation of the US dollar against Indian rupee and other major currencies.

"At end-March 2019, India's external debt was placed at $543.0 billion, recording an increase of $13.7 billion over its level at end-March 2018," the central bank said.

The external debt-to-GDP ratio stood at 19.7 per cent at end-March 2019, lower than 20.1 per cent