India's outward remittances fall to two-year low as travel and education spending drops
Outward remittances by resident Indians under the Liberalised Remittance Scheme (LRS) fell to a two-year low in November 2025, as spending on education and overseas travel eased and seasonal factors weighed on outflows, according to a report by Times of India. Total remittances declined to $1,937.2 million from $2,364.5 million in October, marking an 18% sequential drop.
Travel and education spend lead the decline
Travel, the main component, fell to $1,101.5 million from $1,352.6 million in October and $1,113.8 million a year earlier. Maintenance of close relatives also eased to $248.3 million from $273.9 million in October and $276.9 million last November.
According to TOI report, equity and debt investments declined sharply to $174 million from $273.1 million in October, though they remained above $85.8 million a year ago. Gifts fell slightly to $194.3 million from $197.5 million, below $216.5 million in November 2024. Education-related remittances also dropped, with spending on studies abroad falling to $121 million from $163.3 million in October and $172.4 million a year earlier.
Meanwhile, outstanding NRI deposits dipped by $250 million to $167.9 billion. As per the TOI report, analysts said the slowdown largely reflects seasonal travel patterns and weaker spending on overseas education, two major drivers of outward remittances.
(With inputs from TOI)
Travel and education spend lead the decline
Travel, the main component, fell to $1,101.5 million from $1,352.6 million in October and $1,113.8 million a year earlier. Maintenance of close relatives also eased to $248.3 million from $273.9 million in October and $276.9 million last November.
According to TOI report, equity and debt investments declined sharply to $174 million from $273.1 million in October, though they remained above $85.8 million a year ago. Gifts fell slightly to $194.3 million from $197.5 million, below $216.5 million in November 2024. Education-related remittances also dropped, with spending on studies abroad falling to $121 million from $163.3 million in October and $172.4 million a year earlier.
Meanwhile, outstanding NRI deposits dipped by $250 million to $167.9 billion. As per the TOI report, analysts said the slowdown largely reflects seasonal travel patterns and weaker spending on overseas education, two major drivers of outward remittances.
(With inputs from TOI)
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