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India's remittance in 2023
July 2 , 2024
145 days
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- India sent out 18.7 million emigrants in 2023.
- India’s inflow of remittances is forecasted to grow at 3.7% in 2024, while it grew at 7.5% in 2023.
- The growth estimate for 2025 is 4%.
- India received $120 billion in remittances in 2023.
- The expectation for 2024 is $124 billion, and it is $129 billion in 2025.
- India was the country which received the highest amount in remittances in 2023.
- It is followed by Mexico at $66 billion, China at $50 billion, the Philippines at $39 billion, and Pakistan at $27 billion.
- The UAE is accounted for 18% of India’s remittance flows.
- Saudi Arabia, Kuwait, Oman, and Qatar are collectively accounted for 11% of India’s total remittances.
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