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Indians who went abroad sent 8 lakh crore rupees in 2022, thousands of crores more than foreign direct investment

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The top five countries receiving remittances from abroad in the form of dollars are India, China, Mexico, Philippines and Egypt.
Remittances have also increased due to the increase in the value of dollar against the rupee.
Talking about last year, China and Mexico received remittances of $ 53-53 billion.

New Delhi. Indians work in every corner of the world. These people earn abroad and send money to India. Every year Indians working in other countries send thousands of crores of rupees to their country. Even in the year 2022, Indians who went abroad have sent record money to India. Compared to last year, this year India has received about 12 percent more remittances and this year it can go up to $ 100 billion (about Rs 8 lakh crore). India has now become the first country in the world to receive remittances. India had received remittance of $ 87 billion in the year 2021.

This information has been given in the Migration and Development Brief of the World Bank. It has been said that India has left Mexico, China and Philippines far behind in receiving remittances. The top five countries receiving remittances from abroad in the form of dollars are India, China, Mexico, Philippines and Egypt. These remittances have a major contribution in India’s dollar reserve. It has been said in the report that earlier where unskilled workers from India used to go to low-income Gulf countries, now the number of highly skilled people among Indians going abroad is high, who go to high-income countries like America, England, Singapore, Australia and New Zealand. going in.

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Remittance more than FDI
The amount of money Indians have sent from abroad is more than the total foreign direct investment in India. The government expects that the FDI inflow in India this year could be $80 billion. This will be about 20 percent less than the remittances received by India. Remittances have also increased due to the increase in the value of dollar against the rupee. Earlier more money used to come from Gulf countries. But, in the year 2021, there was a decrease in remittances from Gulf countries and there was a jump in remittances from countries like America, England and Singapore.

Last year China got 53 billion dollars
If we talk about last year, China and Mexico received remittances worth $53-53 billion. The Philippines received remittances worth $36 billion. Egypt had received 33 billion dollars.

Tags: business news in hindi, dollars, economics, NRI

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