Forex spends by Indians drop 2% to $29 billion in FY26
MUMBAI: Total outward remittances under the Liberalised Remittance Scheme (LRS) witnessed a contraction in FY26, dropping about 2% to $29 billion from the $29.6 billion recorded in FY25. This downward trajectory highlights that visa restrictions are impacting overseas education spending, which plummeted 20.9% from $2.9 billion to $2.3 billion, alongside a 3.1% dip in international…