Of all the money that Indians send home from abroad, which state receives what % of the total?
India receives the highest inward remittance - (a fancy way to say money from overseas) of all nations in the world. In 2021, it received a whopping $87 Billion according to the World Bank.
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According to an RBI survey, just four states - Kerala, Maharashtra, Tamil Nadu, and Karnataka receive 59% of all inward remittances.
Kerala topped the list of states, accounting for about one-fifth or approx 1 Lakh Crore Rupees (2017)
Source: rbidocs.rbi.org.in
Kerala topped the list of states, accounting for about one-fifth or approx 1 Lakh Crore Rupees (2017)
Source: rbidocs.rbi.org.in
27% of all inward remittance to India comes from π¦πͺUAE, followed by 23% from πΊπΈUSA and 12% from πΈπ¦Saudi Arabia.
Qatar πΆπ¦: 6.5%
Kuwait π°πΌ: 5.5%
Oman π΄π²: 3%
UK π¬π§: 3%
Malayasia π²πΎ: 2.3%
Canada π¨π¦: 1%
Hong Kong ππ°: 0.9%
Australia π¦πΊ: 0.7%
Germany π©πͺ: 0.6%
Italyπ: 0.05%
Qatar πΆπ¦: 6.5%
Kuwait π°πΌ: 5.5%
Oman π΄π²: 3%
UK π¬π§: 3%
Malayasia π²πΎ: 2.3%
Canada π¨π¦: 1%
Hong Kong ππ°: 0.9%
Australia π¦πΊ: 0.7%
Germany π©πͺ: 0.6%
Italyπ: 0.05%
60% of remittances received by Indian residents were used for family maintenance (i.e., consumption), followed by deposits in banks (20%) and 8.3% for investments in land property and shares.
Over 70% transactions had value > 500 USD and only 2.7% had value < 200 USD.
Over 70% transactions had value > 500 USD and only 2.7% had value < 200 USD.
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