Diaspora dollars: be thankful for non-residents sending money home but let’s not taken these flows for granted
In all this, a silver lining has been inward remittances from India’s diaspora. According to the International Organization for Migration’s World Migration Report 2026, India was the world’s largest recipient of these flows in 2024 with nearly $138 billion, a sum that has more than doubled from almost $53 billion in 2010. Mexico, the next largest recipient in 2024, was a distant second with $68 billion. At last count, RBI had forex reserves of $691 billion, equivalent to about 11 months’ import cover.
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