Research Gateway

Inflows of remittances to India have experienced a sharp rise in recent years. Remittances have also emerged as a more important and stable source of foreign exchange inflow compared to official development assistance, foreign direct investment or other types of capital flowsin particular in developing countries.The top 10 migrant destination countries were the United States, Saudi Arabia, Germany, Russia, United Arab Emirates (UAE), United Kingdom, France, Canada, Spain and Australia. The top 10 migrant source countries were India, Mexico, Russia, China, Bangladesh, Pakistan, the Philippines, Afghanistan, Ukraine, and United Kingdom (World Bank 2016).The three main recipient countries are India, China and Philippines. In the other hand US, Saudi Arabia and Germany are the three main source countries. India, with a vast reservoir of both highly skilled and semi-skilledand unskilled labour force, is aone of the major contributor to the contemporary global labour flows.An increasing trend in the inflow remittances in the country in last pair of decades has attracted the attention of the researchers. At the same time over the last few years it is also seen that the inflation rate is very high in India.