India received USD 56 billion in remittances
New Delhi: India received nearly USD 56
billion in remittances in the year 2010-11, which is a jump of
USD 2 billion from the corresponding period a year ago.
Overseas Indian Affairs Minister Vayalar Ravi, addressing
a conference of heads of missions of Gulf region, gave out
the figure saying remittances has touched USD 55.9 billion
India had received a total of USD 53.9 billion as
remittances in the year 2009-10 while in 2008-09, the amount
was USD 46.9 billion.
The World Bank had earlier this year in a report said
Indian expatriates are expected to remit about USD 55 billion
into the country in 2010-11 and will be the top receiver of
The top remitting countries in 2009 were United States
(USD 48.3 billion), Saudi Arabia (USD 26 billion) and
Switzerland (USD 19.6 billion).
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