Indians Sent Abroad Enough Money in a Decade to Build 62 IITs: Unpacking the Jaw-Dropping Numbers

The Problem: The Growing Demand and Complexities of Overseas Money Transfers

The most recent statistics released by the Reserve Bank of India offer a striking insight into the spending patterns of Indian households: transfers abroad for education have now exceeded ₹1.76 lakh crore over the last ten years. Such a figure could fund the construction of 62 new IIT campuses.

The increase in sending children to study abroad indicates a broader scope of possibilities that more families are putting into global education to ensure a better future for their children. The rising tuition fees and the greater number of students moving abroad are not just figures, but symbols of the rising national confidence and the desire to experience the best academic institutions in the world. Though it requires managing changes in costs and exchange rates, each rupee that is transferred overseas is a symbol of belief in change and a promise of giving the next generation the power.

Why Such Remittance Volumes?

The RBI disclosed striking numbers in August 2025 that vividly map the growing capital flight for education.

• ₹1.76 lakh crore has flown out of India for studying abroad in the past decade; of this, ₹29,000 crore has already left in just 2023–24. 
• That single year’s outflow could finance the ground-up, fully furnished establishment of more than ten new IITs at the current cost projections. 
• What’s striking is the yearly spike in money sent for foreign education—up nearly twelvefold since the 2014– 15 academic year. From ₹2,429 crore ten years back, the 2022–23 final count stood at ₹29,171 crore, a surge that shows no sign of slowing. 
• Put another way, that entire pile is more than half of the yearly budget allocated to India’s entire higher education sector. The figures signal that the drain is no longer peripheral, but almost structural. 

Sending money out for tuition or living expenses is more than an accounting entry for families; it is the transfer of hope wrapped in trust, the need for the fastest possible route, the expectation of transparent and honest pricing, and the wager of a more secure tomorrow for the child. Yet too often, the sender confronts charges that are rarely disclosed upfront and exchange rates that float with a life of their own.

LuLu Forex—Making Global Transfers Seamless

This is where LuLu Forex comes into play, simplifying international fee remittance so effectively that what once felt like the hardest part of sending money abroad is now pretty much seamless. Created around what today’s remitters need, the LuLu Forex advantages line up like this:

• Clear-Cut Pricing: The numbers you see are the numbers you pay. One of the main advantages of the service is that rates, fees, and everything else are all displayed up front, and there are no last-minute surprises. 
• Swift, Seamless Transactions: By using the LuLu Forex overseas education fee payment service, you can make payments, seamlessly via any of the branches.
• Personalised Plans: Whether you need to pay tuition fee, or send money for family maintenance, no matter LuLu Forex will make sure your funds are transferred in the most secured and timely manner.  
• Compliant with Regulatory Standards: As a Reserve Bank of India-licensed entity, LuLu Forex’s reporting and operating protocols satisfy rigorous regulatory frameworks, sparing you from any compliance or operational doubts.

Also Read: Your Gateway to Hassle-Free Travel: LuLu Forex Travel Currency Card

Conclusion

When the amount you’re sending across borders just keeps climbing, the old clichés about feeling confident or being pleased with the service no longer cut it; every transfer demands rock-solid belief, absolute transparency, and benefits facing the clock. LuLu Forex partners with you every time, ensuring that your money transfer across borders remains easy, safe, and completely clear, every time. Contact us anytime and see how we turn your international plans into practical, smooth, simple, and completely secure solutions.