PM Modi Appeals to Indian Citizens to Postpone Foreign Travel Amid Economic Crisis
Indian Prime Minister Narendra Modi has made an unprecedented appeal to citizens, urging them to postpone foreign travel and destination weddings abroad for at least one year. This appeal comes as India grapples with economic pressures stemming from the West Asia conflict and soaring oil prices.
Modi, speaking at public events in Hyderabad and Gujarat, implored Indians to reduce discretionary foreign exchange spending. This includes overseas vacations and international wedding ceremonies. The goal of this appeal is to conserve India’s foreign exchange reserves, which have seen a significant decline from $728.5 billion in late February to $690.69 billion as of May 1, 2026—a drop of nearly $38 billion.
The travel industry has responded with concern to this appeal. Ravi Gosain, president of the Indian Association of Tour Operators, noted that summer overseas inquiries were already down 10% to 15% even before the Prime Minister’s appeal. This request comes at peak season when affluent families typically travel to Europe and Australia during school holidays from April to June.
India’s expenditure on crude and petroleum products in the fiscal year ended March 2026 was $174.9 billion. Approximately 32.7 million Indians traveled abroad in 2025, including more than 14 million leisure travelers. Industry experts suggest that the Prime Minister’s appeal could significantly impact outbound tourism operators while potentially boosting domestic travel destinations.
Source: CNBC