The International Organization for Migration (IOM) has in its World Migration Report 2024 said that India was the top recipient of remittances with over $111 billion in 2022. India was also the first country to surpass the 100 billion-dollar threshold, revealing the importance of labour migration in the region. Pakistan and Bangladesh also figured among the top 10 recipients of international remittances. Mexico, China, the Philippines, and France have ranked in the top five.
In 10 years – from 2010 to 2020 – the remittances India received had grown from $53.48 billion to $83.15 billion. This significant influx of funds can be attributed to the huge number of migrant workers. The IOM report highlighted that nearly 18 million (1.3% of India’s population) are international migrants, with major diasporas from India located in the UAE, the United States, and Saudi Arabia. That said, India is also the 13th most popular destination for immigrants. A sizable 4.48 million people come from across the globe to live in India. – editor@nrifocus.com
Leave a Reply