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India Retains Position As Top Recipient Of Remittances: Report

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In a report World Bank on Monday said that India has retained its top slot as the highest recipient of remittance from its diaspora with inflow of whopping USD 79 billion in 2018.

 

As per the report, India is followed followed by China (USD 67 billion), Mexico (USD 36 billion), the Philippines (USD 34 billion), and Egypt (USD 29 billion).

India Retains Position As Top Recipient Of Remittances: Report

Over the time span of three years, the remittances to India have remained significant and have inched higher from USD 62.7 billion in 2016 to USD 65.3 billion 2017.

Remittances to India witnessed a growth of 14% also on the wake of Kerala floods that hit the people hard.

For the low-income countries the remittances reached a record-high, there has been a push in remittances to high income nations as well with remittances recording a 9.6% rise to USD 689 billion in 2018 from USD 633 billion in 2017.

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Read more about: remittance world bank india
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