Overseas Remittances

Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about USD 100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy. The government is strongly presenting India to multinational companies as a country where they can set up their factories apart from China and the EU, she said. Sitharaman said the Indian diaspora should also partner with small and big businessmen of the country so that the entrepreneurial ski

Remittances sent by overseas Pakistani workers decreased 10.5 per cent in September 2022 on a month-on-month basis, the State Bank of Pakistan has said

What's the significance of the US overtaking UAE in remittances to India?

India's remittances from the Gulf saw a steep decline during the pandemic. But it was offset by a jump in remittances from the US. Let's understand the changing dynamics of inward remittances

Travel, relative care top the chart, with the former coming back to pre-Covid levels

Growth in the money repatriated by migrant workers will slow to 4.2% in 2022 as base effects fade

The governor of Central Bank of Sri Lanka said he has seen a $300 million drop in remittances in just the last month

Exporters may approach AD Category-I banks for reduction in invoice value on account of cash discount to overseas buyers for prepayment of the usance bills

The ADB said that employment in host economies of Asian migrants is contracting significantly

'There will be demand for Kerala nurses and paramedics all over the globe,' says Finance Minister Thomas Isaac

The figure dropped to $65.59 billion in 2015-16 and further to $61.29 billion in 2016-17