MUMBAI: India’s outward remittances for overseas education fell 24% year-on-year to about $0.32billion in Aug 2025 from $0.42billion in Aug 2024. The figure was the lowest for Aug since 2017, a month that typically sees higher remittances at the start of the academic season in US. “The 24% fall in education remittances highlights how closely India’s foreign exchange outflows are tied to a complex mix of global policy, economic, and behavioural shifts shaping India’s outward forex flows,” said Pavan Kavad, MD of currency exchange firm Prithvi Exchange (India) Ltd. Education-related spending, one of the biggest components under the Liberalised Remittance Scheme after travel, is losing momentum, even accounting for pocket money wired under the “maintenance of close relatives” category.

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