🇧🇹 Bhutan vs 🇮🇳 India

Live side-by-side comparison of government debt. India currently owes about 762.5× as much as Bhutan — a gap of $3.36 trillion. Updated every second from each country's baseline figure; sources below.

Net debt and interest: IMF World Economic Outlook, October 2026, general government, 2025, mostly IMF estimates. A dash means no comparable figure. How these are calculated.

Among the 194 governments tracked here, Bhutan ranks 20th by debt-to-GDP and India 39th. Measured per person, Bhutan is 89th and India 122nd.

Analysis

By total government debt, Bhutan ranks 151st and India 8th among the 194 sovereigns tracked on this site.

On a per-citizen basis the picture can look different from the nominal totals: a resident's notional share of the government debt in Bhutan is roughly 2.4× that in India ($5,564 vs $2,277 per person).

The debt-to-GDP picture is asymmetric here: Bhutan sits at 103% of GDP, above India's 84%, meaning Bhutan owes far more relative to the size of its own economy — even where the nominal, dollar-for-dollar comparison above suggests otherwise.

The IMF publishes no net debt figure for either. Bhutan spends about 6.8% of government revenue on net interest ($66 million in 2025), and India about 25% ($200.5 billion in 2025). India carries the lower debt ratio but the heavier interest bill: rates, currency and assets matter as well as the size of the debt. See the full interest ranking.

The gap between them is widening: India's debt is growing faster in dollar terms ($3K/sec vs $30/sec for Bhutan), adding roughly $214,963,200 to the difference each day.

Scale is part of the story too: India's population (1.48B) is about 1863.7× Bhutan's (1M), which is part of why the nominal and per-capita comparisons above can point in different directions — a government's debt load scales loosely with the size of both its economy and its population, not either alone.

Bhutan and India are both grouped under this site's “Asia-Pacific” region, so this is, in effect, an intra-regional comparison as well.

This analysis is generated automatically from live data as an educational orientation, not financial advice — see the methodology page for definitions and caveats.

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