top of page

India Receives a Whopping $125 Billion in Annual Remittances, Signaling Economic Resilience and Global Connectivity

India has solidified its position as a global remittance leader, receiving a remarkable $125 billion in 2023, according to the World Bank's Migration and Development Brief released on December 18.

This marks the second consecutive year that India's inward remittances surpassed $100 billion. The report identifies the United States as the largest source of remittances, with India ranking as the top recipient, followed by Mexico, China, the Philippines, and Egypt.

The achievement reflects the substantial contribution of the Indian diaspora and highlights the resilience of India's labor market in navigating global economic challenges over two decades.

Remittances to low and middle-income countries (LMICs) increased by approximately 3.8% in 2023, with India leading the way. Notably, remittances contribute nearly 3.4% to India's GDP, showcasing their significant economic impact.

Comments


Top Stories

Advertise Now (1).png
Trump Boulevard Dedicated in Florida | West Palm Beach Ceremony | Amaravati Today
30:27
Trump White House Gaggle: Iran, Gaza Plan, Fed Cuts, Venezuela | Amaravati Today
05:27
Melania Trump on AI, Creativity & the “Age of Imagination” | Amaravati Today
05:27
Trump Unveils $50B Rural Health Investment at White House Roundtable | Amaravati Today
01:05:47
India Issues Iran Travel Advisory | MEA on Chabahar, US Talks & Japan | Amaravati Today
26:36
Macron Pushes New Caledonia Talks Amid Independence Boycott | Amaravati Today
07:47
PM Modi on 10 Years of Startup India: Unicorns, Jobs & AI Vision | Amaravati Today
57:58
Sweden Economy 2026: Strong Recovery, Low Inflation, Stable Outlook | Europe | Amaravati Today
31:10
9.png
Live Streams | Facts | Analysis | Explainers | Breaking News

Get in Touch

Manikondu Pvt Ltd
SY. 130P & 115/1P, ISB Rd
Financial District, Gachibowli
Hyderabad, India 500032
letstalk {at} amaravati (dot) today

Follow us on

  • X
  • LinkedIn
  • Youtube
  • Facebook
  • Instagram

© 2024 by Amaravati Today | Privacy Policy | Imprint & Dsiclaimer | CIN: U70200TS2024PTC184435

bottom of page