Remittances to India | Wikipedia audio article
Channel: wikipedia tts
Date: 12/11/2018

This is an audio version of the Wikipedia Article:
Remittances to India

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SUMMARY
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Remittances to India are money transfers from non-resident Indians (NRIs) employed outside the country to family, friends or relatives residing in India. India is the world's leading receiver of remittances, claiming more than 12% of the world's remittances in 2015. Remittances to India stood at US$68.91 billion in 2015, accounting for over 4% of the country's GDP. As per the Ministry of Overseas Indian Affairs (MOIA), remittance is received from the approximately 25 million members of the Indian diaspora. India, while retaining its top spot as the world's largest remittance recipient, led the decline with remittance inflows amounting to $62.7 billion last year, a decrease of 8.9 per cent over $68.9 billion in 2015 A total of US$8.476 billion was made in remittances by foreign workers in India to their home countries.