Foreign Money Remittance to India Has Reached $100 Billion this Year

Foreign Money Remittance to India has Reached $100 Billion this Year and as per World Bank expectation, it is going to retain its spot as the world’s top recipient of remittances. The remittance from the rich countries like US, UK, Singapore has increased as compare to Gulf countries which is having lower salary & allowances.

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Cash transfers to India from high-income countries climbed to more than 36% in 2020-21, up from 26% in 2016-17. The share from five Gulf countries, including Saudi Arabia and the United Arab Emirates, declined to 28% from 54% in the same period, the World Bank said, citing Reserve Bank of India data.

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