UN - India achieves record $111 Billion remittances in 2022
Key insights from the UN's World Migration Report 2024, which highlights India's record remittances and global migration trends.
In 2022, India received a huge amount of money from people living abroad. The United Nations said it was more than $111 billion. India is by far the largest recipient of international remittances and the first country to ever reach this figure, according to the World Migration Report 2024 by the International Organisation for Migration.
The report also states that India received the most money from people living abroad compared to other countries. After India, the top countries receiving money were China, Mexico, France, and the Philippines.
Over the years, the amount of money India gets from people living abroad has been going up. For example, in 2010, it was $53.48 billion, and by 2022, it reached $111.22 billion. This is a lot of money that families in India depend on for their needs.
Most of the people sending money to India come from Southern Asia. They leave their countries to work in other places and send money back home to support their families. However, many migrant workers face risks like being treated unfairly or not getting paid enough.
The report also talked about how many people from India move to other countries. It said about 18 million people from India live in other countries, making India the country with the most people living abroad. Many Indians live in countries like the United States, the United Arab Emirates, and Saudi Arabia.
On the other hand, it mentioned that India is a popular place for people from other countries to move to. Around 4.48 million people from other countries live in India.
Further, it talked about how the COVID-19 pandemic affected migration. Many people lost their jobs and had a hard time because of the pandemic. This affected both people moving to other countries and those moving within India for work.
