India received $55.9 billion in remittances in 2010-11, an increase of $2 billion vis-a-vis the previous year, the Foreign Affairs Minister, Mr Vayalar Ravi, said today.
India received $53.9 billion in remittances in 2009-10, while in 2008-09, the amount was $46.9 billion.
The World Bank had said in a report earlier this year that Indian expatriates are expected to remit about $55 billion into the country in 2010-11 and it will be the top receiver of remittances worldwide.
The top remitting countries in 2009 were the US ($48.3 billion), Saudi Arabia ($26 billion) and Switzerland ($19.6 billion).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.