Thursday, December 02, 2021

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India received 87 billion dollars in remittances in 2021

India received 87 billion dollars in remittances in 2021

New Delhi, Nov 19 (Prensa Latina) India received 87 billion dollars in remittances in 2021, thus becoming the largest recipient of these funds worldwide, it was reported in this capital.
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The United States was the major source of such revenues, with more than 20 percent, according to a new World Bank report, The Hindu newspaper reported.

India is followed by China, Mexico, the Philippines and Egypt, according to the financial institution’s report.

In 2020 India received more than 83 billion dollars in remittances, the media added.

Remittance flows to India are expected to round up at 87 billion dollars, an increase of 4.6 percent, as the gravity of Covid-19 cases and deaths during the second quarter (well above the world average) played an important role in attracting altruistic flows (even to buy oxygen cylinders) to the country, it added.

By 2022, remittances to India are expected to grow 3.0 percent, reaching 89.6 billion dollars, reflecting a decline in the total number of emigrants.

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