Indians living abroad send the most money back to their country. According to the data of the Reserve Bank of India (RBI), in the last financial year, Indian migrants sent money from $ 135 billion to their homes from abroad, which is the biggest record ever and is 14 percent more than last year.
In the last ten years, the remedies coming to India have almost doubled. In 2014-15, where it was $ 69 billion, it increased to $ 135.46 billion in 2024-25, ie a jump of 94.21 per cent was recorded. If seen, India remains the largest country to get Remittens since 2001. According to the World Bank, in 2023-24, India got a Remedy of $ 118 billion which is at the top. This is followed by Mexico ($ 68 billion) and China ($ 48 billion).
A RBI report said that the Remittens received by India usually are more than foreign investment (FDI) which makes it a source of stable external funding. In SAL 2023-24, the highest remedies came from the US (27.7 per cent), followed by UAE (19.2 per cent), UK (10.8 per cent), Saudi Arabia (6.7 per cent) and Singapore (6.6 per cent).
In the year 2023-24, Maharashtra has the highest (20.5 per cent) Remittens Pai which is less than 35.2 per cent in 2020-21. This is followed by Kerala (19.7 percent increased by 10 per cent), Tamil Nadu (10.4 per cent), Telangana (8.1 per cent) and Karnataka (7.7 per cent).
On an average, 26.5 percent of the remedies came in cash form and 73.5 per cent digitally. 92.7 per cent from Saudi Arabia came to 92.7 per cent Digital, followed by Australia (89.5 per cent) while 65 per cent from Italy and 60 per cent from Canada to 65 per cent.