Remittances To India Set To Hit A Whopping $100 Billion Milestone This Year
India is anticipated to get hold of a whopping $one hundred billion in remittances in 2022, in step with the World Bank's latest ‘Migration and Development Brief'.
It stated that remittances to India, the world's largest recipient, stood at $89.four billion final 12 months and could develop at 12 according to cent in 2022.
The document introduced that Mexico might be a far off 2d with $60 billion in remittances, even as China will get hold of an predicted $fifty one billion this 12 months.
The document presented numerous motives for the upward push in remittances to India, along with a slow structural shift in immigration from low-professional employment in Gulf international locations to excessive-professional jobs in excessive-earnings international locations.
“Between 2016–17 and 202...