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This year Indians received ‘money orders’ worth so many crores, you will be surprised to hear the figure

Ritul Pandey

By Ritul Pandey

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Indians living in different countries in connection with jobs have sent Rs 10 lakh crore to their relatives in India in the year 2023. This amount is the highest in the world. The World Bank has given this information. Mexico ranks second in bringing back the money earned from abroad. Mexicans have sent Rs 5 lakh crore to their country. So China is third in this list and people living in China have sent Rs 4 lakh crore to China. The Philippines is fourth with a remittance of Rs 3 lakh crore and Pakistan is fifth with a remittance of Rs 2.2 lakh crore. Immigrants from low-income and middle-income countries send these remittances to parents and relatives in their homeland.

Pakistani emigrants send 12% less remittance

Non-resident Indians (NRIs) remained the leader in remittances in 2022 as well. After this, Rs 9.28 lakh crore was sent to India. Pakistan had sent Rs 2.5 lakh crore in 2022. After one year, it has decreased by 12 percent. According to the World Bank, Indian migrants sent the highest amount to their homeland last year after 2021.

Indians are in large numbers in America due to the increasing demand for labor In the US It has been decided. Therefore, the World Bank has said that these Indians are able to send more money home. Along with this, the demand for skilled and unskilled workers is also increasing in the Middle Eastern countries. After Western countries, most Indians are turning to Middle Eastern countries in search of work.

Growth due to launch of UPI in UAE

The maximum money has come to India from America. After this, 18 percent of the money has been sent to India from UAE. In February 2023, UAE saw the biggest increase in remittances after the introduction of payment services through UPI. The World Bank has said that this has made it easier for people to send money to India.

After the United Arab Emirates (UAE) in the Middle East, Saudi Arabia, Kuwait, Oman and Qatar are the countries that send the largest number of workers to send money to India. Which was about 11% of the total money flow in 2023. The World Bank estimates that this figure will increase by 3.7% to more than Rs 10.3 lakh crore in 2024. At the same time, this amount is said to increase by 4% to 10.7 lakh in 2025.

Gulf countries are the main destinations

The Gulf has become a major destination for migrant workers. In particular, workers from India, Bangladesh, Egypt, Ethiopia, Kenya are moving to Gulf countries, where they work in manufacturing, hospitality, security and other sectors.

Ritul Pandey

Ritul Pandey

I am Ritul Pandey, a content creator focused on delivering entertaining and engaging news from the worlds of entertainment and sports

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