Inbound remittances received

Verified

Before (baseline)

18USD billion

as of 2004-03-31

Now (latest)

129USD billion

as of 2024-03-31

Change

×7.2

Over time

USD billion · source-verified data points only

Context & shortfalls

India has been the world's top remittance recipient for over a decade. Remittances grew steadily from 2004, dipping briefly in FY2015-16 due to Gulf oil price crash reducing Indian workers' earnings there. The US, UAE, UK, Saudi Arabia, and Canada are the top source countries. Remittances (~3.4% of GDP) have consistently exceeded FDI inflows — a significant current account support.

Source

Reserve Bank of India / World Bank Migration and Development Brief

https://www.rbi.org.in/Scripts/AnnualReportPublications.aspx ↗

Data as of 2024-03-31. Large national figures change frequently — verify at source before citing.