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100-billion dollar remittance
December 9 , 2022
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- India will be the first country in the world to receive $100 billion from remittances during 2022.
- The World Bank has said India’s remittance will grow 12 per cent from 7.5 per cent last year.
- It attributed the feat to the large share of Indian migrants earning relatively high salaries in the United States, United Kingdom and East Asia.
- India’s remittance flows are expected to account for only 3 per cent of its GDP in 2022.
- The US has surpassed the UAE as the top source country.
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