New Delhi: The remittances from the Gulf countries to India sharply declined from 50 percent in 2016-17 to 30 percent in 2020-21. The UAE which was the top source of remittances is surpassed by the US.
As per the RBI remittances survey 2020-21, the US, the UK, and Singapore have emerged as the important sources of remittances. The cumulative remittances from these advanced economics account for 36 percent of total India’s inward remittances.
India receives over 50 percent of remittances from 10 countries
India receives more than 50 percent of its total remittances from the 10 countries. The US tops the list whereas, the UAE is in the second spot.
- US
- UAE
- UK
- Singapore
- Saudi Arabia
- Kuwait
- Oman
- Qatar
- Hong Kong
- Australia
State-wise share of remittances
Earlier, Kerala, Tamil Nadu, and Karnataka used to receive significant share of the total remittances received by entire India. However, it has almost halved in 2020-21 when compared to what these states used to receive in 2016-17. These states have strong dominance in gulf countries.
Due to the decline in remittances from the Gulf countries, Kerala no longer remains the top receipt state. The reason behind it is the migration of semi-skilled workers from other states to Gulf countries.
In recent years, the migration of semi-skilled workers from Uttar Pradesh, Bihar, Orissa, and West Bengal to the Gulf countries has increased significantly.
Currently, Maharashtra tops the list of states that receive remittances. The top 10 states in the list are as follows
- Maharashtra
- Kerala
- Tamil Nadu
- Delhi
- Karnataka
- Andhra Pradesh
- Uttar Pradesh
- Gujarat
- Punjab
- Bihar
