16 June 2017

India tops global remittance-receiving list

India tops global remittance-receiving list

India has claimed the top spot among the remittance-receiving nations, surpassing China. The United Nations, in its report, stated that Indians working across the globe sent home 62.7 billion US dollars in 2016.

According to the ‘One Family at a Time’ study by the UN International Fund for Agricultural Development, about 200 million migrants globally sent more than 445 billion dollars as remittances in 2016 to their families. Remittance flows have grown over the last decade from 296 billion in 2007 to 445 billion dollars in 2016. It said 80 percent of remittances are received by 23 countries, led by India, China, the Philippines, Mexico, and Pakistan.

Important Takeaways from above News-
  • 9th Secretary-General of United Nations is Antonio Guterres.
  • Its headquarter is in New York City, USA.

Source- The Hindu Business Line

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