INDIA-Topping Charts for maximum Inward remittances - Finance Ppl

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India tops the chart for receiving maximum remittances in world; touches 100$ billion mark in 2022.

These are remittances ie inward money transfers from NRIs employed outside the country and account for nearly 3% of India's GDP.

Rupee depreciation (at around 10% as against dollars)has also proved to be advantageous in this case, resulting in rise in qtm of inward remittances.

Previously, in 2021, India had received 89.4 Bn dollar remittances, topping in the highest IR parameter last year as well.

Source: KNOMAD/ World Bank