The value of remittances to India outweighed the value sent to other countries about 10 times in 2021, according to a ranking that maps the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For India, the top five recipient countries for remittances in 2021 included Bangladesh, Nepal, China, Sri Lanka, and the United States. India's main sources for remittances were the United Arab Emirates, the United States, Saudi Arabia, Oman, and Kuwait.

Graph and download economic data for Remittance Inflows to GDP for India (DDOI11INA156NWDB) from 1975 to 2020 about remittances, India, and GDP.

The share of digital remittances in money leaving the U.S. for India stayed relatively the same in 2024, with digital options being more common than cash. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels originating from the U.S. towards India. The United States was the number two country of origin for remittances to India, while the Asian country was the second-highest likely destination of remittances from the United States. Remittances are, nevertheless, still a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Monthly data on remittance inflow to South Asian countries (Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka) from their partner countries is collected from January 2018 to December 2022 from the Central Bank database. As an alternative to monthly GDP data, monthly Industrial Production Index (IPI) data is used instead as a proxy for GDP. This is because monthly GDP data is not available. Monthly IPI data was collected from International Financial Statistics by the International Monetary Fund (IMF) for South Asian countries and partner countries (Singapore, Malaysia, Japan, Italy, and the UK). Libya and Middle Eastern nations, however, don't have monthly IPI statistics. Since the economies of those countries are heavily dependent on oil production, we created the Oil Production Index as a proxy for GDP. World Bank and EIA monthly crude oil price and production data are used to calculate Oil Production Index. Distance and standard gravity control variables like population, contiguity, and common language are taken from the Dynamic Gravity datasets constructed by the United States International Trade Commission. Migration stock data is collected from the Bureau of Manpower Employment and Training (BMET) and the International Organisation of Migration (IOM). We collect exchange rate data from the Central Bank dataset. To tackle the issue of different currency units, a Bilateral Exchange Rate Index (BERI) is constructed, where the exchange rate of each month for each country is divided by the exchange rate of the base year of that particular country. Furthermore, COVID cases, COVID mortality, and COVID vaccination data are collected from the Our World in Data website.

Nearly 40 percent of remittances sent from the United States to India were handled by either Western Union or MoneyGram in 2024. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels originating from the United States and which sent money to India, specifically. The United States was the number two country of origin for remittances to India, while the Asian country was the second-highest likely destination of remittances from the United States. Remittances are, nevertheless, still a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore - by definition - estimates.

In the financial year 2022, the foreign inward remittances to India from the UAE (United Arab Emirates) as a share of remittances from across the world, was 18 percent, the highest among other GCC nations. Saudi Arabia and Kuwait followed with over 5 and 2 percent share in foreign remittances. 25 percent of overseas Indians reside in GCC countries. GCC, or the Gulf Cooperation Council, is a group of six nations – Saudi Arabia, UAE, Oman, Kuwait, Qatar and Bahrain.

India All States: Capital Receipts: Remittances data was reported at 1,317,890.900 INR mn in 2019. This records an increase from the previous number of 1,305,832.000 INR mn for 2018. India All States: Capital Receipts: Remittances data is updated yearly, averaging 690,338.000 INR mn from Mar 1991 (Median) to 2019, with 29 observations. The data reached an all-time high of 2,967,603.500 INR mn in 2016 and a record low of -75,049.200 INR mn in 1997. India All States: Capital Receipts: Remittances data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FH001: Capital Receipts: All States.

The biggest receivers of remittances in the world included India, Mexico, and China in 2023, with each country receiving several billions worth of dollars. This is according to a database that tries to model money sent internationally from one party to another. Remittances typically refer to money sent from migrant workers back home to family and friends, although there are other forms of this. Remittances can, for example, include pensioners who have a second home in a foreign country. Nevertheless, Asia Pacific is often referred to as the main receiver of remittances.

High Frequency Indicator: The dataset contains year- and month-wise compiled data from the year 2011 to till date on the value of different types of remittances (money transacted) which have been by Indian resident individuals, under the Liberalised Remittance Scheme (LRS). The types of remittances made include Deposits, Donations, Gifts, Investment in equity/debt, Maintenance of close relatives, Medical Treatment, Purchase of immovable property, Studies Abroad, Travels, etc.

Notes:

1. The Liberalised Remittance Scheme enables all resident individuals, including minors, to freely remit up to USD 2,50,000 per financial year for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000.

India PA: Receipts: Remittances data was reported at 43,088.600 INR mn in 2018. This records an increase from the previous number of 11,424.600 INR mn for 2017. India PA: Receipts: Remittances data is updated yearly, averaging 14,498.700 INR mn from Mar 1998 (Median) to 2018, with 21 observations. The data reached an all-time high of 882,730.100 INR mn in 2016 and a record low of 4,010.900 INR mn in 2000. India PA: Receipts: Remittances data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s India – Table IN.FA020: Public Account: Receipts.

Personal remittances, received (% of GDP) in India was reported at 3.3504 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Workers' remittances and compensation of employees, received (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

India Outward Remittances: Liberalised Remittance Scheme: Travel data was reported at 399.202 USD mn in Sep 2018. This records a decrease from the previous number of 533.562 USD mn for Aug 2018. India Outward Remittances: Liberalised Remittance Scheme: Travel data is updated monthly, averaging 3.277 USD mn from Apr 2009 (Median) to Sep 2018, with 114 observations. The data reached an all-time high of 533.562 USD mn in Aug 2018 and a record low of 0.238 USD mn in Nov 2013. India Outward Remittances: Liberalised Remittance Scheme: Travel data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Monetary – Table IN.KAI021: Outward Remittance: Liberalised Remittance Scheme.

India BoP: Cr: Current Acc: Income: Secondary: PT: Workers' Remittances data was reported at 12.589 USD bn in Dec 2018. This records a decrease from the previous number of 14.468 USD bn for Sep 2018. India BoP: Cr: Current Acc: Income: Secondary: PT: Workers' Remittances data is updated quarterly, averaging 9.112 USD bn from Jun 2009 (Median) to Dec 2018, with 39 observations. The data reached an all-time high of 14.468 USD bn in Sep 2018 and a record low of 5.999 USD bn in Sep 2010. India BoP: Cr: Current Acc: Income: Secondary: PT: Workers' Remittances data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under Global Database’s India – Table IN.JEA012: Balance of Payments: BPM6: USD: Current Account.

Remittances entering India took less than one day to be processed in 2024, a figure that was much higher if cash or bank account transfers were involved. This is according to a Statista estimate that aims to compare the transaction speed listed for different international money transfer channels across the world. Generally, digital remittance tend to process remittances much faster. The figures shown here have originally been gathered by the World Bank using mystery shopping. "Traditional end-to-end" and "digital to traditional" are categories assigned by Statista, and refer to the payment method used at the remittance sending side and the method used when receiving. "Traditional" refers to cash and bank account transfers, while "Digital" includes everything that does not involve these (e.g., cards, mobile wallets, mobile money, etc.). In this statistic, the categories "traditional to digital" and "digital end-to-end" have been excluded, as there were not enough channels to use these. In the case of India, the "traditional end-to-end" and "digital to traditional" covered 99.7 percent of all recorded channels since 2016.

India Outward Remittances: Liberalised Remittance Scheme: Maintenance of Close Relatives data was reported at 198.660 USD mn in Sep 2018. This records a decrease from the previous number of 241.218 USD mn for Aug 2018. India Outward Remittances: Liberalised Remittance Scheme: Maintenance of Close Relatives data is updated monthly, averaging 19.600 USD mn from Apr 2009 (Median) to Sep 2018, with 114 observations. The data reached an all-time high of 318.639 USD mn in Mar 2018 and a record low of 8.607 USD mn in Feb 2014. India Outward Remittances: Liberalised Remittance Scheme: Maintenance of Close Relatives data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Monetary – Table IN.KAI021: Outward Remittance: Liberalised Remittance Scheme.

Punjab: Capital Receipts: Remittances data was reported at 328.387 INR mn in 2025. This records a decrease from the previous number of 568.014 INR mn for 2024. Punjab: Capital Receipts: Remittances data is updated yearly, averaging 568.014 INR mn from Mar 1991 (Median) to 2025, with 35 observations. The data reached an all-time high of 19,229.500 INR mn in 2008 and a record low of -1,075.400 INR mn in 2002. Punjab: Capital Receipts: Remittances data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FF093: State Finances: At A Glance: Punjab.

Rajasthan: Capital Expenditures: Remittances data was reported at 138,097.712 INR mn in 2025. This stayed constant from the previous number of 138,097.712 INR mn for 2024. Rajasthan: Capital Expenditures: Remittances data is updated yearly, averaging 59,693.850 INR mn from Mar 2004 (Median) to 2025, with 22 observations. The data reached an all-time high of 139,934.717 INR mn in 2022 and a record low of 1,344.942 INR mn in 2017. Rajasthan: Capital Expenditures: Remittances data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FF097: State Finances: At A Glance: Rajasthan.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

An economy's financial markets are critical to its overall development. Banking systems and stock markets enhance growth, the main factor in poverty reduction. Strong financial systems provide reliable and accessible information that lowers transaction costs, which in turn bolsters resource allocation and economic growth. Indicators here include the size and liquidity of stock markets; the accessibility, stability, and efficiency of financial systems; and international migration and workers\ remittances, which affect growth and social welfare in both sending and receiving countries.

Preliminary figures revealed that the total value of cash remittances sent by overseas Filipino workers (OFWs) based in India amounted to about 7.54 million U.S. dollars in 2023. Cash remittances sent by OFWs in India fluctuated since 2014, with its peak value recorded in 2018.

India was Canada's main destination for remittances in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Canada, the top five recipient countries for remittances in 2021 included India, the Philippines, China, France, and Pakistan. Canada's five main sources for remittances were - by a large margin - the United States, followed by the UK, Australia, France, and Italy.