Changing Dynamics of India’s Remittances
On 19th March 2025, the Reserve Bank of India (RBI) published the results of the sixth round of the survey on India’s remittances for 2023-24.
What are the key findings?
Status of Remittance
- India's total remittances have more than doubled, rising from USD 55.6 billion in 2010-11 to USD 118.7 billion in 2023-24.
- As a ratio to GDP, India’s remittances have hovered around 3 per cent of GDP since 2000.
Source of Remittances
- The United States became the largest source of these remittances, contributing 27.7% of the total in 2023-24, followed by the United Arab Emirates (UAE) at 19.2%.
- The ....
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