India’s external debt registered a slight decline in the first quarter of 2026, easing to USD 762.8 billion from USD 765.5 billion at the end of the fourth quarter of 2025.
The modest reduction, captured in data updated on 29 June 2026, marks a small but notable pullback following the previous quarter’s level. The adjustment suggests a marginal improvement in India’s external debt position going into 2026, after closing 2025 with foreign liabilities at USD 765.5 billion.
While the change between the fourth quarter of 2025 and the first quarter of 2026 is limited in scale, the shift will be closely watched by investors and policymakers as an indicator of the country’s external vulnerability and financing conditions in the year ahead.
