NRIs Created A Unique Record!

Tue Apr 24 2018 13:24:31 GMT+0530 (IST)

Non-Resident Indians(NRIs) have created a new record now.  Indian immigrants have topped the list of people sending huge funds to their native country from abroad.  Recent reports of remittances from NRIs to India revealed staggering figures.  They have sent nearly $69 billion(Rs. 4,48,500 crores) to India in the last year(2017).

The total remittances by NRIs to India in 2016 was $62.7 billion.   The total increased by 9.9% in 2017.  World Bank revealed this figures and it said that the total remittances were high in 2014 which stood at $70.4 billion.

Let us have a look at the list

1. India - $69 billion
2. China - $64 billion
3. Philippines - $33 billion
4. Mexico - $31 billion
5. Nigeria - $22 billion
6. Egypt - $20 billion
7. Pakistan - $20 billion
8. Bangladesh - $13 billion

World Bank has revealed in its report that the total money that has sent to the developing countries by their nationals working in developed countries is $466 billion and the figure was $429 billion in 2016.  On the other hand, World Bank also revealed that the money flow to the wealthy countries also increased by 7% from 2016 to 2017.  The report has revealed that the figure was $573 billion in 2016 and it has increased to $ 613 billion.  

World Bank found that strong growth has been reported in European countries and Russia.  The World Bank estimated that the figures will further increase in 2018 and it will aid development in their respective countries.