India tops in receiving remittance from foreign countries

At a time when the world is reeling under the slump of economy, India continues to remain the country with the largest remittance to its home country. According to the data released b the world bank Indians remitted $55.06 billion, thus making India  the top recipient country of international remittance from abroad in the year 2010. Indian is followed by China ($51 billion) and Mexico ($22.6 billion).

Meanwhile,  from GCC countries alone, Indian receives 45% of its international remittance .  The largest share of the 45% comes from UAE followed by Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.

India has had the historical bilateral relationship with the GCC (Gulf Cooperation Council) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE) for centuries with mutual respect and benefit. Relations got strengthened after the oil exploration boom which opened the doors on Indian semi skilled and unskilled workers who migrate in the GCC countries to meet out their manpower need in new projects.

Unskilled workers accounts to 70% while professionals like doctors, engineers, architecture and other white-collar employees in private as well as in government departments constitute around 30%.

India is the top immigrant country to GCC region as it constitutes around 32% share of whole migrant population in the region, followed by Pakistan 13%, Egypt 11%, Yemen 6%, Philippines, Bangladesh, Sri Lanka, Sudan, Iran and Indonesia.

Per Indian migrant average earning in GCC countries is $4887 slightly above the average of all countries $4841 in the world.

There are  27 million global Indians, scattered across 190 countries around the world.

Leave a Comment