Pivotal Drivers Shaping India’s External Commercial Borrowings

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Volume-XVIII, Issue-II, Jul.-Dec. 2025
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Year	2025
Volume/Issue/Review Month	Volume-XVIII \| Issue-II \| Jul.-Dec.
Title	Pivotal Drivers Shaping India’s External Commercial Borrowings
Authors	Dr. Prachi Agarwal, Dr. Swami Prasad Saxena, Ph.D.
Broad area	Finance
Abstract	To achieve a targeted economic growth is the central objective of every economy, and in order to attain this predetermined goal, companies look at alternative modes of domestic as well as global financing. ECBs are playing a crucial role in this context. These serve as a conduit for Indian entities, both in the public and private sector for approaching international financial markets, thereby supplementing domestic capital resources, and contributing to economic growth. the present paper identified macroeconomic factors that are significantly associated with the variations in ECB inflows in long run. Among these, foreign exchange rate and index of industrial production are found to be major factors having significant impact on ECB inflows in India.
DOI	https://doi.org/10.63340/SAMT/100000016
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