India Receives a Record $111 Billion in Remittances: What Does it Mean? | Vantage with Palki Sharma
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Published 2024-05-09
In a world first, Indians living abroad have set a major record by sending $111 billion back to the country as remittances. The remittances make up around 3% of India's GDP. Indians working high skilled jobs in developed nations now make up for 36% of the remittances received. This has helped boost the total amount of what the country receives in remittances annually. An assessment by the World Bank reveals that remittances to India will continue to rise in 2024, too. Notably, no other country has ever crossed the $100 billion mark in this domain. On Vantage, Palki Sharma analyses why this is a significant milestone.
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India | Remittances | Record | World Bank | Firstpost | World News | Vantage | Palki Sharma
#india #remittances #record #worldbank #indianeconomy #gdp #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
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All Comments (21)
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If remittances are 110 billion dollars imagine the taxes paid by them to those govt. Shocking right
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The irony, Western empires came to India and looted a lot, now the Indians are sending it back by working hard back to India.... VANDE MATARAM 🙏
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In the USA, the Indians, doctors, etc, pay the highest income tax of any group. Thank you India for sending us useful citizens.
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Go out learn whatever you could, make a lot of money but never forget your motherland. When it's your calling, come back and build this nation. This land has given us everything
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You forgot about indians working on Foreign ships
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Happy and proud that I am also a small part of it. 🇮🇳 🇺🇲
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The best feeling ever is receiving a message confirming that money has been sent to your parents.
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You can take Indians out of India but you can never take out India from the minds of Indians ..... LOVE YOU INDIA 😍😍😍
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My $10k yearly contributions count for my mother land India for keeping my family and relatives safe and keeping them happy.
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The Philippines used to hold the world record of oversea remittances for many years, thanks to 10% of Filipino people working overseas. Now India is holding the world record. 🏆
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Palki Ji, U bring out the best information relevant to India and its current position. Thanks Palki Ji
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i told ya, palki. india is big time. This is foreign direct investment!!! India again#1 in the world.
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Indians are Wise,Loving and Caring people also Hardworking not Lazy like Some of us. Excellency to 🇮🇳.
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Congratulations 🥳 it’s a positive move,it makes sense given the consideration to the Indian population.
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One side effect is that Indians living abroad invest easily in real-estate in India, which results into higher prices for Indians living in the country.
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Happy to contribute to it ... Home is always home ❤🇮🇳❤
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Our company has 800 ships at an average of 80000 $ per ship! So this is only one company! Imagine all around the world!
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This is why India needs other countries and the other countries need India to grow
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Great for india, this will help to boost the economy.
