Remittances, inward: India - Revision history

Jyoti: /* 2000-24 */

2026-04-18T09:30:49Z

‎2000-24

Jyoti: /* 2023 */

2025-05-04T12:41:47Z

‎2023

Jyoti: /* 2017 – 2024 */

2025-04-08T20:36:00Z

‎2017 – 2024

Jyoti: /* Remittances and the global oil economy */

2025-04-08T20:34:57Z

‎Remittances and the global oil economy

Jyoti: /* 2020-21 */

2024-05-14T16:15:41Z

‎2020-21

Jyoti: /* 2020-21 */

2024-05-13T16:54:00Z

‎2020-21

Jyoti: /* 2022 */

2023-12-20T10:30:19Z

‎2022

Jyoti: /* 2020-21 */

2022-12-10T19:37:20Z

‎2020-21

Jyoti: /* 2017: Remittances increase by 10% */

2022-09-05T19:31:46Z

‎2017: Remittances increase by 10%

Jyoti: /* Country-wise */

2022-07-29T10:09:38Z

‎Country-wise

← Older revision		Revision as of 09:30, 18 April 2026
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	Singapore: 7%		Singapore: 7%
		+
		+	==2005, 2019-2025. vis-à-vis price of oil==
		+	[[File: Remittances To India, vis-à-vis Changes in the price of oil, 2005, 2019-2025.jpg\| Remittances To India, vis-à-vis Changes in the price of oil, 2005, 2019-2025 <br/> From: [https://epaper.indiatimes.com/article-share?article=31_03_2026_019_006_cap_TOI March 31, 2026: ''The Times of India'']\|frame\|500px]]
		+
		+	'''See graphic''':
		+
		+	'' Remittances To India, vis-à-vis Changes in the price of oil, 2005, 2019-2025 ''

	[[Category:Economy-Industry-Resources\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD		[[Category:Economy-Industry-Resources\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD

@@ Line 376: / Line 376: @@
  “The use of dirhams and rupees in cross-border transactions would be instrumental in channelling more remittances through formal channels. More generally, despite low oil prices and production cuts, and a near collapse in GDP growth in the GCC from 8% in 2022 to 1.5% in 2023, lower inflation (2.6% in 2023 compared with 3.3% in 2022) orchestrated by domestic policy played a key role in sustaining Indian migrants’ ability to continue to send remittances to India,” said the report.
-[[Category:Economy-Industry-Resources|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
+==2000-24==
-REMITTANCES, INWARD]]
+[https://epaper.indiatimes.com/article-share?article=02_04_2025_024_006_cap_TOI. April 2, 2025: ''The Times of India'']
-[[Category:India|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
-REMITTANCES, INWARD]]
-[[Category:Pages with broken file links|REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
+Millions of Indians working and studying abroad are sending record amounts of money back. But it’s not just the volume that’s changing — it’s also who is sending money, from where, and how. A recent RBI report reveals a quiet transformation in the story of India’s global migrants, finds ''' Richa Gandhi '''
-REMITTANCES, INWARD: ]]
 =Impact on Kerala=

@@ Line 459: / Line 459: @@
 [https://epaper.indiatimes.com/article-share?article=21_03_2025_012_007_cap_TOI  March 21, 2025: ''The Times of India'']
-[[File: 2017 – 2024, The main source countries for remittances to India;<br/> The main states that received the remittances.jpg|2017 – 2024: The main source countries for remittances to India;<br/> The main states that received the remittances <br/> From: [https://epaper.indiatimes.com/article-share?article=21_03_2025_012_007_cap_TOI  March 21, 2025: ''The Times of India'']|frame|500px]]
+[[File: 2017 – 2024, The main source countries for remittances to India, The main states that received the remittances.jpg|2017 – 2024: The main source countries for remittances to India;<br/> The main states that received the remittances <br/> From: [https://epaper.indiatimes.com/article-share?article=21_03_2025_012_007_cap_TOI  March 21, 2025: ''The Times of India'']|frame|500px]]
@@ Line 472: / Line 472: @@
 Continuous upskilling and reskilling will be critical in maximising this potential, the report published in RBI’s latest bulletin said.
  Remittances remain a major source of foreign exchange, consistently exceeding gross inward FDI flows and serving as a key buffer against external shocks. They have accounted for around 3% of GDP since 2000, far exceeding China’s 0.3%, though trailing the Philippines. India’s remittances have more than doubled from $55.6 billion in 2010-11 to $118.7 billion in 2023-24, growing at an average annual rate of 14.3% post-pandemic. They also help fund the country’s merchandise trade deficit, reinforcing their economic significance.
 [[Category:Economy-Industry-Resources|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD

@@ Line 448: / Line 448: @@
 One of these is the dependant tax, which started on July 1, reported by TOI earlier. From this year, Saudi Ara bia has begun levying a de pendant tax on non-nationals residing in the kingdom. The tax rate is SR 100 (Rs 1,700 approx) per month on each dependent. It will be increased to SR 200 in 2018, SR 300 in 2019 and SR 400 in 2020 per dependent member of the expatriate family ,“ Saudi government said. There are around 3 million Indians in Saudi Arabia.
 [[File:remiti.png||frame|500px]]
 For now, official figures do not show any noticeable impact on Indians there. Indian officials had, however, raised the issue with a visiting Saudi delegation on July 11, the MEA told the House.
 In Bahrain, a construction company employing nearly 1,500 Indians laid off around 700 workers but was unable to repatriate them after clearing their dues due to the financial crisis. All such stories have an adverse impact on worker mobility. Indians also continue to get duped by fake recruiting agents. Instances of mistreatment of Indian workers could have added to the slowdown.
 =Transaction fees=

← Older revision		Revision as of 16:15, 14 May 2024
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	'' 5 most expensive corridors in South Asia, 2020-21 ''		'' 5 most expensive corridors in South Asia, 2020-21 ''
		+
		+	==Statistics:1990- 2020==
		+	[[File: Personal remittances received in India from Indians living and working abroad, 1990- 2020.jpg\|Personal remittances received in India from Indians living and working abroad, 1990- 2020 <br/> From: [https://epaper.indiatimes.com/article-share?article=11_05_2024_023_005_cap_TOI May 11, 2024: ''The Times of India'']\|frame\|500px]]
		+
		+	'''See graphic''':
		+
		+	'' Personal remittances received in India from Indians living and working abroad, 1990- 2020 ''
		+
		+	[[Category:Economy-Industry-Resources\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD
		+	]]
		+	[[Category:India\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD
		+	]]
		+	[[Category:Pages with broken file links\|REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD:
		+	]]

	==2020-2023==		==2020-2023==

← Older revision		Revision as of 16:54, 13 May 2024
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	'' 5 most expensive corridors in South Asia, 2020-21 ''		'' 5 most expensive corridors in South Asia, 2020-21 ''

		+	==2020-2023==
		+	[https://epaper.indiatimes.com/article-share?article=09_05_2024_001_011_cap_TOI Lubna Kably TNN, May 9, 2024: ''The Times of India'']
		+
		+	Mumbai: India is the origin of the largest number of international migrants — nearly 18 million, with large diasporas in the UAE, US and Saudi Arabia. And it continues its march as the top country receiving remittances from its diaspora: the figure crossed $110 billion in 2022.
		+
		+	According to the World Migration Report, 2024, released in Dhaka on Wednesday by the UN's International Organisation for Migration, India, Mexico and China were the top three remittance recipient countries in 2022, followed by the Philippines, France and Pakistan. India
		+	received $111 billion, the first country to reach and even surpass the $100-billion mark. In 2020, it had received $83 billion. Mexico, with inward remittances of $61 billion, was the second-largest recipient; in the previous year it had replaced China to occupy the second spot and continued to hold sway.
		+
		+	The report points out that international remittances have recovered from the dip in 2020 due to the pandemic. Migrants sent an estimated $831 billion in international remittances globally in 2022.
		+
		+
		+	''' Size of migration corridors hints at top sources of remittances '''
		+
		+	'' UAE Has 3.5m Indians, US 2.7m And Saudi Arabia 2.5m: IOM Report ''
		+
		+	The figure of $831 billion for international remittances globally is an increase from $791 billion in 2021 and significantly more than $717 billion in 2020.
		+
		+	China’s inward remittances in 2022 were $51 billion. The contraction and its slipping to third spot has been attributed to multiple factors, including demographic shifts that have resulted in shrinking of the working age population and the country’s zero-Covid policy, which prevented people from travelling abroad for work. During 2022, India’s other neighbouring countries Pakistan (rank 6) saw an inflow of nearly $30 billion and Bangladesh (rank 8) received $21 billion.
		+
		+	Migration corridors: In 1970, there were just 84 million international migrants, which translated to 2.3% of the world’s population. By mid-2020 (per latest available data), nearly 280 million people lived in a country other than their country of birth, constituting 3.6% of the world’s population.
		+
		+	The size of a migration corridor from ‘country A’ to ‘country B’ is measured as number of people born in ‘country A’ who were residing in ‘country B’ at the time of the estimate. The Mexico-to-US corridor is the largest in the world at nearly 11 million people. This is fol- lowed by the Syrian Arab Republic to Turkiye and Russian to Ukraine corridors, attributed largely to displacement of people owing to civil unrest and invasions. The India-UAE corridor is the fourth largest. An interactive map released by IOM shows there were 3.5 million Indians in UAE, followed by 2.7 million in US (which was the sixth largest international migration corridor) and 2.5 million in Saudi Arabia (in ninth position).
		+
		+	The report does not sepa- rately reflect the top source countries of inward remittances to India, but understandably it would be from the top diaspora-centric countries. US and Saudi Arabia were the top two in the list of those sending remittances overseas, with outflows of $79 billion and $39 billion, respectively, in 2022.
		+
		+	Net migration is the difference between inflow of migrants into a country and those who migrate from it overseas. For 10 countries including India, estimated net outflow of migrants exceeded one million over the period from 2010 through 2021. India’s net migration flow was (–)3.5 million during this period. Interestingly, India, which in mid-2020 had the largest diaspora of nearly 18 million (1.3% of the global population) occupied the 13th rank as a destination country, hosting 4.5 milliom migrants (0.3% of the global population).
		+
		+	[[Category:Economy-Industry-Resources\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD
		+	]]
		+	[[Category:India\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD
		+	]]
		+	[[Category:Pages with broken file links\|REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD:
		+	]]

	==2022==		==2022==

@@ Line 300: / Line 300: @@
  Besides, the economic conditions in Gulf countries, which accounts for nearly a third of the remittances, played out in India’s favour as a majority of migrants, who are blue-collar workers, returned home during the pandemic. “Vaccinations and the resumption of travel helped more migrants to resume work in 2022 than in 2021. GCC’s price support policies kept inflation low in 2022, and higher oil prices increased demand for labour, enabling Indian migrants to increase remittances and counter the impact of India’s record-high inflation on the real incomes of their families,” according to the report. Further, the depreciation of the rupee against the dollar may have resulted in increased remittance flows.
-[[Category:Economy-Industry-Resources|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
+==2023==
-REMITTANCES, INWARD: INDIA]]
+[https://timesofindia.indiatimes.com/business/india-business/with-125-billion-india-retains-top-spot-in-remittance-chart-world-bank/articleshow/106103105.cms  Dec 19, 2023: ''The Times of India'']
 [[Category:India|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
-REMITTANCES, INWARD: INDIA]]
+[[File: Inward remittances into India, 2017-24, year-wise; Top remittance recipients, 2023.jpg|Inward remittances into India, 2017-24, year-wise; Top remittance recipients, 2023 <br/> From: [https://timesofindia.indiatimes.com/business/india-business/with-125-billion-india-retains-top-spot-in-remittance-chart-world-bank/articleshow/106103105.cms  Dec 19, 2023: ''The Times of India'']|frame|500px]]
 [[Category:Pages with broken file links|REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
-REMITTANCES, INWARD: INDIA]]
 =Impact on Kerala=

← Older revision		Revision as of 19:31, 5 September 2022
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	The World Bank estimates that officially recorded remittances to developing countries will increase by 10.8% to reach $528 billion in 2018. This new record level follows robust growth of 7.8% in 2017. Global remittances, which include flows to high-income countries, are projected to grow by 10.3% to $689 billion.		The World Bank estimates that officially recorded remittances to developing countries will increase by 10.8% to reach $528 billion in 2018. This new record level follows robust growth of 7.8% in 2017. Global remittances, which include flows to high-income countries, are projected to grow by 10.3% to $689 billion.
		+
		+
		+	==2017–21==
		+	[https://epaper.timesgroup.com/article-share?article=29_08_2022_015_010_cap_TOI August 29, 2022: ''The Times of India'']
		+
		+	[[File: Share of remittance inflows, Top global remittance inflows, FY21.jpg\|Share of remittance inflows, Top global remittance inflows, FY21 <br/> From: [https://epaper.timesgroup.com/article-share?article=29_08_2022_015_010_cap_TOI August 29, 2022: ''The Times of India'']\|frame\|500px]]
		+
		+
		+	Mumbai : Private banks, including multinationals, are getting a larger share of the inward remittances from non-resident Indians (NRIs). The reason: North America now plays a more significant role with the US overtaking UAE in remittance flows.
		+
		+	In FY21, the share of US in remittances was 23. 4%, while that of the UAE was 18%. “Flows from North America and Europe are primarily driven by individuals operating in the services sector and hence depend on macroeconomic conditions of the underlying countries,” said a research report by Axis Mutual Fund.
		+
		+	In the Middle East North Africa (MENA) region, rising oil prices fuel a construction and tourism boom, increasing the demand for labour. In FY17, the MENA region accounted for 53% of total remittances to India. The region’s share dropped to 28. 6% in FY21, while North America’s rose marginally to 24% from 23. 9% in FY17.
		+
		+	NRIs in the gulf region largely remit their money to public sector banks. But the North American NRIs mostly use private (and multinational) banks to send money. As a result, the share of private banks in NRIs’ remittances has risen to 53%, overtaking public sector banks which are left with the remaining 47%.
		+
		+	According to the report, the widespread perception that a major chunk of India’s NRI population hails from Kerala is only partly true and is likely to change. Rising wages in the southern states have resulted in a drop in emigration. Nearly 50% of emigration cleared by the external affairs ministry in 2020 was from other states like Uttar Pradesh, Orissa, Bihar and West Bengal.
		+
		+	“The role of remittances in GSDP (gross state domestic product) is already falling in states like Kerala (7. 5% as of FY21) and Karnataka, whereas it is rising in northern states. Significant rise in remittance percentage of the GSDP in Maharashtra and Delhi could be support to families, given the severe Covid impact and the GSDP itself falling drastically during FY21,” the report said.
		+
		+	[[Category:Economy-Industry-Resources\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
		+	REMITTANCES, INWARD: INDIA]]
		+	[[Category:India\|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
		+	REMITTANCES, INWARD: INDIA]]
		+	[[Category:Pages with broken file links\|REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
		+	REMITTANCES, INWARD: INDIA]]

	==2018, $79 billion: India highest recipient of remittances==		==2018, $79 billion: India highest recipient of remittances==

@@ Line 208: / Line 208: @@
 [https://epaper.timesgroup.com/article-share?article=18_07_2022_013_009_cap_TOI  Mayur Shetty, July 18, 2022: ''The Times of India'']
-[[File: Country-wise sources of remittances (in %), 2016-21.jpg|Country-wise sources of remittances (in %), 2016-21 <br/> From: [https://epaper.timesgroup.com/article-share?article=18_07_2022_013_009_cap_TOI  Mayur Shetty, July 18, 2022: ''The Times of India'']|frame|500px]]
+[[File: Remittances into India, source country-wise, 2020-21.jpg|Remittances into India, source country-wise, 2020-21 <br/> From: [https://epaper.timesgroup.com/article-share?article=18_07_2022_013_009_cap_TOI  Mayur Shetty, July 18, 2022: ''The Times of India'']|frame|500px]]
 Mumbai: The US is playing an important role in the supply of foreign exchange not just in terms of investment and trade but also in remittances from non-residents — an area hitherto dominated by the Gulf region. Since Covid, the composition of remittances has changed, and India’s linkage to the US economy has increased.
@@ Line 221: / Line 221: @@
 Historically, the GCC region accounted for half of India’s remittances, making up for a major chunk of the oil trade deficit with the region. Post-Covid, the migration pattern to the GCC countries has changed significantly with a sharp contraction in the number of emigration clearances (ECs) issued since 2015, generally issued to unskilled or semi-skilled workers and women seeking overseas employment.
+[[Category:Economy-Industry-Resources|R REMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIAREMITTANCES, INWARD: INDIA
 ===Analytic graphics===