You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

India top money recipient, remits $55 bn in 2009 [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
ChromeFoundry Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-01-10 10:16 PM
Original message
India top money recipient, remits $55 bn in 2009
Advertisements [?]
Source: The Economic Times of India

2 Apr 2010, 0436 hrs IST,Gayatri Nayak,ET Bureau

MUMBAI: At a time when the global economy has been staring at across-the-board job and salary cuts, inward remittances by Indian expats have continued to surge. This reflects a flight to safety by the Diaspora on the back of the economy’s resilience amid the global crisis.

The provisional balance of payments data released by RBI on Wednesday shows that overseas Indians remitted $55.06 billion in 2009, around 17% higher than what the World Bank had projected for the year.

India has been the largest recipient of remittances by its expats for over a decade now. Unlike NRI deposits, which are repatriable, remittances are permanent transfers and hence, add to the external sector strength of an economy.

According to the World Bank, India continues to be the top remittance receiving country in the world, having attracted significantly higher inflows of $ 51.6 billion in 2008 (followed by China with inflows worth $48 billion and Mexico with $26 billion) compared with $37.2 billion in 2007.


Read more: http://economictimes.indiatimes.com/news/economy/indicators/India-top-money-recipient-remits-55-bn-in-2009/articleshow/5753229.cms
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC