India is set to maintain its position as the country that receives the largest number of expatriate remittances among the countries in the world. According to reports released by the World Bank, expat remittances will exceed $10,000 crore this year for the first time in history, up 12% from 2021. India is the country that consistently holds the top position in the flow of expatriate money.
According to 2021 estimates, India will receive $8,700 crore in remittances. The Gulf countries, India’s traditional source of remittances, have lagged a bit over the years. However, India has benefited from high remittance flows from the US, UK, Japan, Singapore, Australia and New Zealand, which have high skills and incomes.
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India is followed by China, Mexico, the Philippines and Egypt in terms of expatriate remittances. Meanwhile, Maharashtra accounts for 35.2% of total remittances to India.
