India's debt-GDP ratio dips to 18.7 per cent in March 2024

India's external debt to GDP ratio declined to 18.7 per cent at end-March 2024 from 19.0 per cent at end-March 2023, reflecting a strengthening of the country's macroeconomic fundamentals. India's external debt rose by $39.7 billion to $663.8 billion by end-March 2024, but due to high economic growth, the debt-to-GDP ratio declined.