Remittances to India set to hit record $100bn this year

Remittance flows to India are estimated to grow 12% to reach $100 billion for the first time this year— way ahead of Mexico, China and Philippines— according to World Bank’s Migration and Development brief. Between 2016-17 and 2020-21, the share of remittances from US, UK and Singapore increased from 26% to over 36%, while the share from five Gulf countries dropped from 54% to 28%,” the World Bank said.

from Times of India https://ift.tt/VZm4dpF