India tops in receiving remittance from foreign countries in 2010

Discussion in 'Economy & Infrastructure' started by ejazr, Aug 26, 2011.

  1. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

    Oct 8, 2009
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    Hyderabad and Sydney
    India tops in receiving remittance from foreign countries

    August 25th, 2011 Ziaulla Namani

    At a time when the world is reeling under the slump of economy, India continues to remain the country with the largest remittance to its home country. According to the data released b the world bank Indians remitted $55.06 billion, thus making India the top recipient country of international remittance from abroad in the year 2010. Indian is followed by China ($51 billion) and Mexico ($22.6 billion).

    Meanwhile, from GCC countries alone, Indian receives 45% of its international remittance . The largest share of the 45% comes from UAE followed by Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.

    India has had the historical bilateral relationship with the GCC (Gulf Cooperation Council) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE) for centuries with mutual respect and benefit. Relations got strengthened after the oil exploration boom which opened the doors on Indian semi skilled and unskilled workers who migrate in the GCC countries to meet out their manpower need in new projects.

    Unskilled workers accounts to 70% while professionals like doctors, engineers, architecture and other white-collar employees in private as well as in government departments constitute around 30%.

    India is the top immigrant country to GCC region as it constitutes around 32% share of whole migrant population in the region, followed by Pakistan 13%, Egypt 11%, Yemen 6%, Philippines, Bangladesh, Sri Lanka, Sudan, Iran and Indonesia.

    Per Indian migrant average earning in GCC countries is $4887 slightly above the average of all countries $4841 in the world.

    There are 27 million global Indians, scattered across 190 countries around the world.
  3. pmaitra

    pmaitra Moderator Moderator

    Mar 10, 2009
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    EST, USA
    Yes, that is a great report.

    Also those people who repeatedly bring about a person's NRI status in debates and those that go around liking such posts need to read this report and grow a sense of shame.

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