Explanation: The long-term debt estimated at US$ 499.1 billion, constituted the largest chunk of 80.4 per cent, while the short-term debt, at US$ 121.7 billion, accounted for 19.6 per cent of the total.

• The short-term trade credit was predominantly in the form of trade credit (96 per cent) financing imports.
• Commercial borrowings (CBs), NRIs deposits, short-term trade credit and multilateral loans together accounted for 90 per cent of the total external debt.
• While NRI deposits marginally contracted during end-March 2021 and end-March 2022, CBs, short-term trade credit and multilateral loans, on the other hand, expanded during the same period.
• The rise in CBs, short-term trade credit and multilateral loans together was significantly larger than the contraction in NRI deposits.

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1856834