Tuesday 21 May 2013

India-Worlds Largest recipient of global remittances


India is the largest recipient of global remittances in the world, receiving $69 billion in 2012, according to a World Bank report.


A remittance is a transfer of money by a foreign worker to his or her home country.
India is the largest recipient of global remittances in the world, receiving $69 billion in 2012, according to a World Bank report.
Rank 16. Indians based in Malaysia sent back $493 million to India in the form of remittances.
Rank 15. Indians based in Italy sent $ 572 million to their home country, India.
Rank 14. Indians based in Bahrain sent $690 million to their home country.
     Rank 13. Singapore-based Indian expats remitted $ 1,113 million      to India.
Rank 12: Australia-based Indians remitted as much as $1,245 million back home.
Rank 11: Indians based in Sri Lanka sent $1,283 million back to India.
Rank 10: The remittances from Qatar to India had been $2,084 million, according to the report
Rank 9: Oman-based Indians remitted $2,373 million to India.
Rank 8: The Gulf is a popular region for Indian workers. Indians based in Kuwait remitted $2,673 million to their home country.
Rank 7: Indians in Nepal remitted $ 2,934 million to India!
Rank 6: Canada-based Indians sent home as much as $3,145 million.
Rank 5: Indians working in Bangladesh remitted $3,716 million back home.
Rank 4: UK-based Indians remitted $3,904 million to their home country.
Rank 3: Workers in Saudi Arabia remitted $ 7,621 million to India, according to the report.
Rank 2: Indians working, based or settled in the United States sent back whooping $10,844 million to India.
Rank1. Indian received as much as $14,255 million in remittances from United Arab Emirates.

(Sources: Migration & Development brief 2012 from the world Banks Migration & Remittance Unit)

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