Indian students shift from Ukraine to Georgia and Russia amid conflict: RBI

Indian students are increasingly turning to Georgia and Russia for higher education as remittances to Ukraine continue to decline sharply, according to the latest data from the Reserve Bank of India’s Liberalised Remittance Scheme (LRS).

Remittances for education in Ukraine, once among the top destinations for Indian students, have dropped from $14.80 million in 2018-19 to just $2.40 million in 2024-25.

Before the Russia-Ukraine war, the flow of funds was on the rise, touching $39.12 million in 2020-21 and 2021-22.

The figure fell steeply to about $10.6 million in 2022-23 after the conflict began in February 2022.

Georgia, on the other hand, has seen a consistent rise in popularity. It entered the top 15 destinations for Indian education remittances in 2022-23, ranking 14th after being 21st in 2018-19, and has now moved up to 12th place.

Data submitted in Parliament in December 2024 showed that 4,148 Indians went to Georgia for education in 2019, a number that rose to 10,470 in 2023.

According to foreign education consultants, Georgia was already well-known for medical and paramedical courses such as physiotherapy but gained more attention after the war began as students sought safer alternatives to Ukraine.

The LRS data shows that in 2024-25, even as overall Indian remittances for education abroad fell, Georgia recorded a 19% increase over the previous year’s $42.38 million.

“Georgia has been popular for its medical courses. It was quite popular even before the war because of its proximity to Europe and because it was very cost-effective.

Their laws for residency are simple, and medical graduates can consider living and working there,” said Pratibha Jain, CEO of Eduabroad Consulting.

Jain noted that Russia remains a preferred option for medical students, though some avoid cities near the Ukrainian border.

LRS data shows that Indian remittances for education in Russia rose sharply to $69.94 million in 2024-25, a 200% jump from $22.48 million in 2023-24.

Except for 2022-23, when the number fell to $16.36 million, spending on education in Russia has increased steadily since 2018-19, when it stood at $14.82 million.

Russia’s rank among the preferred destinations for Indian students has also improved from 23rd in 2018-19 to 11th in 2024-25.

Among the top five countries for Indian students, Canada, the United States, the United Kingdom, Australia, and Germany, the trends in 2024-25 varied.

The United States, which remains the leading destination, saw a 10% decline in education remittances compared to 2023-24.

Canada recorded the steepest fall of around 43%, while Australia saw a 5% decrease. In contrast, the United Kingdom reported a 12% rise, and Germany recorded a sharp 70% increase.

Under the RBI’s Liberalised Remittance Scheme, Indian residents can send up to $250,000 abroad per financial year.