Diaspora

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.