July 2018 \ Diaspora News \ DIASPORA
Diaspora remits USD 70 billion to India

According to the World Bank, India recorded USD 69 billion in remittance inflows in 2017...

By Ajay Sharma

According to the World Bank, India recorded USD 69 billion in remittance inflows in 2017, recording a 10% rise since 2016, equaling to an amount of USD 4,156 from each foreign national. With millions of Indians moving to overseas destinations for settlement and work, India is experiencing a heightened amount of in-flow of foreign exchange leading to positive economic growth and development of the country. The stark truth that Immigrant population has uplifted the remittance inflow of India, can be deduced from the fact that 20 million global Indians have send back a whopping USD 445 million to their families in 2016 alone, according to ‘One Family at a Time’ study by the UN International Fund for Agricultural Development (IFAD).




Tags: Ajay Sharma

Comments.