People of India live in every corner of the world. Indians living abroad play an important role in the country’s economy. Due to these overseas Indians, the economy of the country is benefiting a lot. Indians living abroad have created a new record this time. They have left countries like China-Mexico behind. This step of Indians living abroad has shaken 195 countries.
In fact, Indians living abroad send so much money to their country that boosts the country’s economy. Overseas Indians have once again left everyone behind when it comes to remittances.
Indians living abroad have done a great job
Overseas Indians remitted $120 billion (over Rs. 10 lakh crore) to India last year in 2023. According to a World Bank report, remittances sent to the country by Indians living abroad have left countries like China and Mexico behind. When it comes to this kind of money, China has less than half the amount compared to India. Talking about Pakistan, Pakistanis living abroad do not remit even a quarter compared to Indians. Last year, Mexicans living abroad sent $66 billion back home. Indians living in America have sent the largest amount of money in the world to their country India.
China-Mexico, Pakistan all behind
A report has been released by the World Bank on the data of money sent from abroad. According to this list, Indians living abroad have sent an amount of more than 120 billion dollars i.e. more than 10 lakh crore rupees to India in the year 2023. If we multiply that, Indians living abroad send around Rs 2 crore to the country every minute. According to the data, Mexico received 66 billion dollars, China 50 billion dollars, Philippines 39 billion dollars and Pakistan received only 27 billion dollars as remittances.
Indians are at the top for the second year in a row
Indians have been at the top for the second year in a row in terms of sending money from abroad. Remittances have increased this year compared to last year, Indians have sent a record 8.95 lakh crore rupees in 2023-24. According to reports by the World Bank, United Nations Migration Agency and RBI, this is the second year in a row that Indians living abroad have remitted more than $100 billion to India. Let it be said that this money sent from abroad is a means of increasing the foreign exchange reserves of the country. Not only this, they are a source of domestic income for some small countries.
