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India’s external debt at USD 624.7 bn within comfort zone, says FM Sitharaman

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India’s external debt of USD 624.7 billion at March-end 2023 with a debt-service ratio of 5.3 per cent is within the comfort zone and modest from a cross-country perspective, Finance Minister Nirmala Sitharaman has said.

Union finance minister Nirmala Sitharaman.
Union finance minister Nirmala Sitharaman.

In her foreword to ‘India’s External Debt: A Status Report 2022-23’ released earlier this month, Sitharaman said the ratio of external debt to GDP declined to 18.9 per cent at March-end 2022-23 from 20 per cent a year ago.

The long-term debt constituted 79.4 per cent of total external debt, while short-term debt, which is 20.6 per cent of the total external borrowing, is basically incurred to finance imports, enhancing the stability aspects of the total external debt, she said.

“From a cross-country perspective, India’s external debt position is better than most of the Low and Middle-Income Countries (LMICs) as measured by select vulnerability indicators, such as share of short-term debt in total external debt, external debt to GNI (Gross National Income), forex reserves to external debt and external debt to exports,” the minister noted.

The report said the debt service ratio during 2022-23 has increased marginally to 5.3 per cent from 5.2 per cent during the previous year, mainly due to a rise in debt service payments from USD 41.6 billion in 2021-22 to USD 49.2 billion in 2022-23.

The ‘debt service ratio’ is measured by the proportion of ‘gross debt service payments’ (both principal and interest) to ‘external current receipts’, which indicates the extent of pre-emption of forex reserves for the purposes of repayment of principal and interest out of the stock of foreign debt.

The increase in gross external debt service payments during 2022-23 was due to the combined impact of an increase in debt service payments under commercial borrowings, including through multilateral and bilateral sources (16.7 per cent), external assistance (17.2 per cent) and an increase under NRI deposits (31.7 per cent), the report said.

India’s external debt at USD 624.7 billion as of March-end 2023 is marginally higher by 0.9 per cent or USD 5.6 billion over the previous year. Foreign exchange reserves covered 92.6 per cent of the external debt at March-end 2023, it added.

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Bella Hadid Doubles Down on Her Favorite Heel Trend

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Long before designer heels became a fashion staple, high heels were a status symbol reserved for the elite. In the 17th century, King Louis XIV famously strutted through Versailles in red-bottomed shoes, signaling privilege and power. Today, a different kind of style royalty is making her mark with a signature heel preference—Bella Hadid.

Known for her trendsetting style, Hadid has been spotted repeatedly embracing a particular heel trend: sleek, pointed-toe stilettos. Whether she’s attending high-profile events or walking the streets of New York, her footwear choices consistently exude sophistication and edge. From patent leather pumps to sculptural heels with a modern twist, she proves that a classic silhouette can still feel fresh and contemporary.

With Y2K nostalgia in full swing, heels reminiscent of early-2000s fashion are making a major comeback. Strappy stilettos, kitten heels, and sculptural mules are dominating runways and street style alike. Bella Hadid, always ahead of the curve, has solidified her place as a style icon by embracing these trends with effortless confidence.

Whether she’s reviving vintage-inspired heels or stepping out in avant-garde designs, one thing is clear: Bella Hadid knows how to make a statement from head to toe.

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Invest in Your Career (and Yourself) With a Chic New Work Bag

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If the fashion industry has shown us anything this season, it’s that working women are redefining corporate chic. Whether it’s Aritzia’s Work Wardrobe campaign featuring model Alex Consani or Stella McCartney’s Fall/Winter 2025 show injecting new life into office attire, one thing is clear: dressing like a boss is in.

Of course, no power look is complete without the perfect work bag. From structured totes to sleek crossbodies, a fashion-forward yet functional bag is a must-have for conquering the 9-to-5 in style. Whether you’re heading to the office, commuting, or working remotely from your favorite café, these 12 editor-approved work bags will have you looking polished and put together.


  1. Jacquemus Turismo Bowling Bag

The Jacquemus Turismo bag has been making waves among fashion influencers—and for good reason. Inspired by the classic bowling bag, this structured yet stylish piece is crafted from grained calfskin leather, making it both durable and chic.

Dimensions: Height: 6.3 inches; Width: 9.8 inches; Depth: 4.3 inches

Colors: Black, Green

Material: Grained Calfskin Leather


  1. Ferragamo Hug Bag

The Ferragamo Hug Bag is a favorite among minimalists. With its sleek curved silhouette and understated elegance, this bag transitions seamlessly from boardroom meetings to after-work drinks.


  1. Tory Burch Romy Tote

A classic tote with a modern twist, the Tory Burch Romy Tote is spacious, structured, and endlessly versatile. Designed for professionals on the go, it fits a laptop, planner, and daily essentials with ease.


  1. Prada Galleria Bag

If you’re looking to invest in timeless elegance, the Prada Galleria Bag is a luxury staple that never goes out of style. With its iconic silhouette, saffiano leather, and multiple compartments, it’s both practical and polished.


  1. Cuyana System Tote

For those who value functionality and sustainability, the Cuyana System Tote is a minimalist dream. Made from Italian leather and featuring modular compartments, this tote adapts to your workday needs.


  1. Saint Laurent Sac de Jour

The Saint Laurent Sac de Jour is structured, sophisticated, and effortlessly chic. It’s the ultimate power bag, perfect for making a statement at client meetings and business lunches.


  1. Mansur Gavriel Soft Lady Bag

For a softer take on office style, the Mansur Gavriel Soft Lady Bag offers a slouchy yet structured look. Made from buttery Italian leather, this bag pairs well with both tailored suits and relaxed separates.


  1. Bottega Veneta Arco Tote

The Bottega Veneta Arco Tote blends craftsmanship with contemporary design. Featuring the brand’s signature intrecciato weave, this bag is an artful yet practical choice for the modern professional.


  1. Telfar Large Shopping Bag

Dubbed the “Bushwick Birkin,” the Telfar Large Shopping Bag is a cult-favorite tote that’s both stylish and functional. With plenty of room for daily essentials, it’s a great pick for those who want a trendy yet practical work bag.


  1. Senreve Maestra Bag

The Senreve Maestra Bag is a convertible carryall that can be worn as a handbag, shoulder bag, crossbody, or backpack. Made from scratch-resistant Italian leather, it’s perfect for commuters and multitaskers.


  1. DeMellier Vancouver Bag

For those who appreciate understated luxury, the DeMellier Vancouver Bag offers a timeless silhouette with a modern touch. Handcrafted in sustainable leather, this bag is both eco-friendly and elegant.


  1. Strathberry Midi Tote

The Strathberry Midi Tote is a celebrity favorite, known for its structured design and signature bar closure. With its sleek aesthetic and ample storage space, it’s a stylish addition to any work wardrobe.

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Sarah Burton’s Givenchy Debut: A New Era Through the Female Gaze

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Sarah Burton has officially redefined Givenchy. In her Fall 2025 debut at Paris Fashion Week, the former Alexander McQueen creative director brought a feminine perspective to the legendary house, embracing strength, vulnerability, and emotional intelligence. This moment felt significant—not only because of Burton’s storied past but also because so few women currently helm major luxury brands.


A Tribute to Givenchy’s Heritage

Burton’s inspiration came from Hubert de Givenchy’s 1952 debut collection, known for its clean, graphic silhouettes. A recent discovery of the maison’s archival calico patterns further fueled her vision, leading to designs that balanced wearable ease with dramatic, couture-like elements.

The show opened with a black fishnet catsuit, a bold reset before transitioning into the essence of Burton’s Givenchy—a collection that honored the past while embracing modern femininity.


Key Looks & Defining Elements

Oversized Suits with Cinched Waists → A powerful balance of structure and fluidity.

Sleeveless Dresses with Ruffled Hemlines → Adding movement and drama to everyday elegance.

Cocoon-Like Coats & Jackets → Featuring rounded, puffed-up shoulders, nodding to Givenchy’s classic volume play.

Body-Diverse Runway Casting → One of the few Paris shows this season to feature a range of body types, reinforcing Burton’s commitment to dressing real women.


A New Vision for Modern Women

Burton’s Givenchy is about more than just clothes—it’s about how women want to feel: powerful, sexy, vulnerable, and strong, all at once. Her debut collection wasn’t just a runway success—it was a statement on the future of fashion, where femininity is both celebrated and redefined.

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