India becomes No.1 in recieving NRI deposits

Zee Media Bureau

New Delhi: India has become the largest remittances receiving country at USD 72 billion this year followed by China at USD 64 billion, as per a World Bank report.

The US emerged as the largest remittance source country with an estimated USD 56 billion in outward flows in 2014.

"India was the largest remittance receiving country, with an estimated USD 72 billion in 2015, followed by China (USD 64 billion), and the Philippines (USD 30 billion)," the World Bank said in a report.

In outward flow, the US was followed by Saudi Arabia (USD 37 billion), and Russia (USD 33 billion) in 2014, the Bank said in the report.

Noting that the number of international migrants is expected to surpass 250 million this year, an all-time high, as people search for economic opportunity, the Migration and

The top 10 migrant destination countries are the US, Saudi Arabia, Germany, Russia, the UAE, UK, France, Canada, Spain and Australia.

The top 10 migrant source countries are India, Mexico, Russia, China, Bangladesh, Pakistan, the Philippines, Afghanistan, Ukraine, and UK.

Mexico-US was the largest migration corridor in the world, accounting for 13 million migrants in 2013.

Russia-Ukraine was the second largest, followed by Bangladesh-India, and Ukraine-Russia.

With PTI Inputs