New Delhi: India is the country that receives the most expatriate money. India is consistently ranked first in expatriate remittances. It is estimated that there will be a five percent increase in the remittances of the Indian diaspora by 2022.
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India has been strengthened by higher remittance flows from the relatively low-skill and low-income Gulf countries to the high-skill and high-income countries of the US, Britain, Japan, Singapore, Australia and New Zealand. Foreign direct investment (FDI) into India will touch $8,000 crore by the end of this year. Expatriate remittances will account for 25 percent of this
Cash flow will cross $10,000 crore for the first time in history with 12 percent growth over 2021. Prime Minister Narendra Modi had earlier stated that this money of overseas Indians is being used for the development of the country.
India, which continues to hold the first place in the flow of expatriate money, received 8,700 crore dollars last year. India has overtaken the countries of China, Mexico, Philippines and Egypt.