Indians sent $29 billion under LRS in FY26, down 2% from FY25 (the previous fiscal year)
Business
Indians spent $29 billion abroad under the Liberalized Remittance Scheme (LRS) in FY26, down 2% from FY25 (the previous fiscal year).
The biggest change? Money sent for overseas education dropped nearly 21%, mostly because tougher visa rules are making it harder for students to study abroad.
Shift from travel to overseas investments
International travel spending slipped by 3.1%, though it still made up over half of all LRS remittances at $16.4 billion.
On the flip side, Indians are investing more in global assets: overseas property spending jumped almost 64% and investments in foreign stocks and bonds rose by 56%.
Looks like people are shifting from spending to building wealth worldwide.