India received USD 56 billion in remittances

Last Updated: Friday, November 25, 2011 - 14:59

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
last fiscal.

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
remittances.

The top remitting countries in 2009 were United States
(USD 48.3 billion), Saudi Arabia (USD 26 billion) and
Switzerland (USD 19.6 billion).

PTI



First Published: Friday, November 25, 2011 - 14:59

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