Indian investments in foreign stocks, property touch a record high in Dec

More than $2 billion invested last year amid diversification push

The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record.

At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India’s (RBI’s) data going back over a decade.

The amount spent for each individual segment was also the highest. Foreign deposits, property, as well as shares and other investments each hit a new peak in December 2022 on a rolling 12-month basis.

The government allows Indians to spend $250,000 for various purposes abroad under the liberalised remittance scheme (LRS). This can also be