National debt of India 2024

In 2018, the national debt of India amounted to around 1.8 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year.

Honor thy national debt

National debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks.

India’s debt is rising, but so is its economic growth

India’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

India: National debt from 2014 to 2024

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Release date

October 2019



Survey time period

2014 to 2018

Supplementary notes

Due to the high level of uncertainty in current global economic conditions, the IMF does not offer projections for this economic indicator at this time. Data will be updated as soon as they are available.

* Estimate.

Values have been rounded for better understanding of the statistic. Exchange rate as of December 03, 2019, 1 INR = 0.0139290 U.S. dollars

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Statistics on "India"

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