India Leads the World in Money Sent Home by Workers

 In 2022, India achieved its highest level of remittances, or money sent home by workers living abroad, according to a report from the United Nations International Organization for Migration (IOM). India received over $111 billion in remittances, making it the first country to surpass $100 billion in a year.

The report showed that the money India has received from its expatriate workers has steadily increased over time. In 2010, remittances to India amounted to $53.48 billion. This grew to $68.91 billion in 2015 and further to $83.15 billion in 2020. Many Indian, Pakistani, and Bangladeshi workers migrate to other countries for employment, particularly in Gulf nations, which is a major driver of high remittance levels.

While remittances are very important for the economy, the report also highlighted issues faced by migrant laborers. Some challenges they encounter include high costs of migrating, improper payment, discrimination, and poor treatment on the job. Gulf countries hosting many migrant workers have been criticized for failing to protect their rights, as seen during the 2022 FIFA World Cup in Qatar.

Around 18 million Indians, representing 1.3% of India’s population, live and work abroad according to the report. The United Arab Emirates, the United States, and Saudi Arabia are top destinations for Indian expatriates. At the same time, India has become a significant destination for immigrants, with 4.48 million foreign residents living in the country.