Brief by Shorts91 Newsdesk / 04:49pm on 11 May 2026,Monday India Global
Prime Minister Narendra Modi’s appeal urging Indians to avoid foreign travel and overseas weddings for at least a year comes even as official data shows spending by Indian tourists abroad has already been declining for the past two years. According to Reserve Bank of India data, the major increase in outward foreign exchange spending is now driven largely by high-net-worth individuals investing in foreign movable and immovable assets, including overseas property, debt and equity investments. The analysis suggests leisure travel and destination weddings are no longer the primary contributors to outbound dollar outflows. The findings add a new dimension to the debate around capital outflow, foreign spending patterns and economic nationalism amid global economic uncertainty.
