India's external debts stood at $426bn in 2013

India's external debt stood at USD 426.0 billion at the end of December 2013, registering an increase of USD 21.1 billion, a statistical report compiled by India's Finance ministry stated Saturday."At end-December 2013, India's total external debt stock stood at USD 426.0 billion, recording an increase of USD 21.1 billion which is an increase of 5.2 per cent," the report stated.The report stated that rise in external debt during the period was due to long-term debt particularly Non Resident Indian (NRI) deposits.The long-term debt stood at USD 333.3 billion at end-December 2013, showing an increase of 8.1 per cent over the end-March 2013 level, while short-term debt decreased by 4.1 per cent to USD 92.7 billion, the report stated."Short-term debt accounted for 21.8 per cent of India's total external debt, while the remaining (78.2 per cent) was long-term debt. Component-wise, commercial borrowings accounted for 31.5 per cent of the total external debt, followed by NRI deposits (23.2 per cent) and multilateral debt (12.3 per cent), " it added.The report stated that Government's (Sovereign) external debt stood at USD 76.4 billion, (17.9 per cent of total external debt) at end-December 2013 as against USD 81.7 billion (20.2 per cent) at end-March 2013.