3 weeks ago
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At a clip erstwhile Prime Minister Narendra Modi has urged Indians not to question overseas and springiness up connected overseas weddings for astatine slightest a year, authoritative information shows overseas spending by Indian tourists has really fallen for the past 2 years.
In fact, an investigation of information from the Reserve Bank of India (RBI) shows the existent maturation successful dollars flowing retired of the state is coming from high-net-worth individuals (HNIs) investing successful movable and immovable overseas assets, alternatively than from holiday-goers oregon those getting joined successful overseas locations.
While addressing a gathering successful Secunderabad successful Telangana connected Sunday (May 10, 2025), Mr. Modi laid retired a seven-point database of suggestions to the Indian nationalist to assistance the Indian system and authorities during the ongoing West Asia crisis.
“The increasing civilization of weddings abroad, travelling abroad, and vacationing overseas is becoming prevalent among the mediate class. We indispensable determine that during this clip of crisis, we should postpone travelling overseas for astatine slightest a year,” Mr. Modi said arsenic 1 of his suggestions.
RBI information connected the expenditure nether the Liberalised Remittances Scheme (LRS), the lone ceremonial pathway nether which Indian individuals tin walk abroad, shows that a full of $26.4 cardinal was spent nether this strategy successful the archetypal 11 months (April 2025 to February 2026) of 2025-26. This is 2.3% little than what was spent successful the aforesaid play of 2024-25.
Of this, spending connected overseas question stood astatine $15.3 billion, the largest category, but this magnitude was 3.1% little successful April 2025-February 2026 than successful the aforesaid play of the erstwhile year, which itself was 1% little than successful April 2024-February 2025.
Similarly, spending connected gifts sent overseas contracted 12.7% and 19.1% successful the archetypal 11 months of 2025-26 and 2024-25, respectively.
On the different hand, concern by Indians successful overseas indebtedness and equity surged astir 59% to $2.2 cardinal successful the April 2025-February 2026 period. For context, this fig was $621 cardinal successful the archetypal 11 months of 2021-22.
Similarly, the magnitude spent connected the acquisition of immovable assets overseas jumped much than 76% successful the archetypal 11 months of 2025-26, to $490 million. This fig stood astatine $96.7 cardinal successful the aforesaid play of 2021-22.
