Economy

India receives $56 b in remittances

PTI New Delhi | Updated on November 25, 2011

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).

Published on November 25, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor