New Delhi, January 29 (IANS): India remains the world’s largest recipient of remittances, with inflows reaching $135.4 billion in FY25, supporting stability in the external account, the Economic Survey 2025-26 said on Thursday. A unified effort to reduce manufacturing costs is required for enhancing India’s export competitiveness, the Survey noted. The data indicate volatility, with six months of net outflows and three months of net inflows, resulting in a modest net balance for the year-to-date,” the Survey noted. India’s external debt stood at $746 billion at end-September 2025, up from $736.3 billion at end-March 2025 while the External Debt to GDP ratio stood at 19.2 percent at the end of September 2025. Further, the external debt constitutes less than 5 per cent of the India’s total debt, which mitigates the external sector risks.