🇸🇬 Singapore vs 🇮🇳 India

Analysis

By total government debt, Singapore ranks 13th-largest and India ranks 8th-largest among the 137 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 national debt in Singapore is roughly 80.0× that in India ($189,250 vs $2,367 per person).

The debt-to-GDP picture is asymmetric here: Singapore sits at 171% of GDP, well above India's 84%, meaning Singapore owes far more relative to the size of its own economy — even where the nominal, dollar-for-dollar comparison above suggests otherwise.

The gap between them is widening: India's debt is growing faster in dollar terms ($5K/sec vs $3K/sec for Singapore), adding roughly $234,576,000 to the difference each day.

Scale is part of the story too: India's population (1.44B) is about 244.2× Singapore's (6M), 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.

Singapore 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.