India Inc. Raises Record $61B Through ECBs in FY25

Indian companies borrowed a lot of money from outside the country in the last year, a record amount actually!

This money came through what are called External Commercial Borrowings, or ECBs.

Companies like non-banking finance companies (NBFCs) were the biggest borrowers because it was cheaper for them than borrowing from local banks.

They used the money for things like building new projects.

The total amount borrowed was $61 billion, the highest since 2005.

This was partly because interest rates were lower than bank loans for these better-rated companies, who preferred ECBs.