India becomes first country to reach over $ 100 billion as remittances


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In 2022, India achieved a historic milestone by receiving over $111 billion in remittances, making it the largest recipient globally. This remarkable achievement also marked the first time any country has surpassed the $100 billion threshold in remittances. The United Nations migration agency, The International Organisation for Migration (IOM), reported this significant accomplishment in its World Migration Report 2024.

Alongside India, other top remittance recipient countries included Mexico, China, the Philippines, and France. India’s position as the leading recipient underscores the importance of labor migration from the subregion, with a substantial number of migrant workers contributing to the inflow of remittances.

“India was well above the rest, receiving more than USD 111 billion, the first country to reach and even surpass the USD 100 billion mark. Mexico was the second-largest remittance recipient in 2022, a position it also held in 2021 after overtaking China, which historically had been the second-biggest recipient after India,” the report said.

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