Indian overseas travel spending saw a significant drop in March, with remittances falling by over $212 million from February. This decline, attributed to rising oil prices and a weakening rupee, occurred despite travel remaining the largest component of outward remittances under the Liberalised Remittance Scheme. Indian overseas travel spending saw a significant drop in March, with remittances falling by over $212 million from February. This decline, attributed to rising oil prices and a weakening rupee, occurred despite travel remaining the largest component of outward remittances under the Liberalised Remittance Scheme.
