India's Overseas Remittances Ease as Education Spending Declines and Investments Rise
India's outward remittances under the Liberalised Remittance Scheme rose sharply post-pandemic, peaking at $31.73 billion in FY24 before easing to $28.98 billion in FY26. Spending on overseas education and foreign travel declined due to tighter visa rules and a weaker rupee, while remittances for relatives and gifts moderated. Conversely, investments in foreign equity and debt markets nearly doubled from $0.75 billion in FY22 to $2.7 billion in FY26, indicating a shift in overseas money transfer patterns.