External Debt in India
India - External DebtThe economy looks set to gain traction in Q2 FY 2019, which runs from July to September. Rainfall in August and September, the final two months of the four-month monsoon season, is expected to be normal, which, coupled with above-average rainfall in July, should alleviate concerns in the agriculture sector following the dearth of rain in June. In addition, the private sector PMI rose to an eight-month high in July, mainly on the back of a rebound in the services sector. Looking back at Q1, the economy likely strengthened slightly thanks to faster annual industrial production growth, although the private sector PMI averaged notably lower than in Q4 FY 2018. Meanwhile, in politics, the government contentiously scrapped Jammu and Kashmir’s special status on 5 August, triggering civil unrest despite the government’s preemptive clampdown. In retaliation, Pakistan has suspended bilateral trade with India.
India - External Debt Data
|External Debt (% of GDP)||24.0||23.2||23.1||20.6||19.9|
5 years of economic forecasts for more than 30 economic indicators.
India External Debt Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||6.37||-0.04 %||Jul 31|
|Exchange Rate||68.88||-0.09 %||Jul 31|
|Stock Market||37,481||-0.08 %||Jul 31|
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August 14, 2019
Merchandise exports increased 2.3% year-on-year in July to reach USD 26.3 billion, contrasting the 9.7% decrease in June.
August 14, 2019
In July, consumer prices rose 0.91% compared to the previous month, up from June’s 0.63% increase, partly due to higher prices for food and beverages, which more than outweighed a decrease in energy prices. Consumer price inflation decelerated to 3.1% in July from 3.2% in June.
August 9, 2019
Industrial production increased 2.0% in annual terms in June, down from May’s revised 4.6% increase (previously reported: +3.1% year-on-year) and marking the lowest reading since February. In terms of sectors, growth in June was weighed on by weaker readings in the manufacturing and mining sectors.
August 7, 2019
The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) cut all monetary policy rates by 0.35 percentage points at its 5–7 August meeting, reducing the repo rate to 5.40%, the marginal standing facility to 5.65% and the reverse repurchase rate to 5.15%.
August 5, 2019
The composite Purchasing Managers’ Index (PMI) produced by Nikkei and IHS Market rose to 53.9 in July from 50.8 in June, representing the highest reading since November 2018.