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

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