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    “India Breaks Record as First Nation to Exceed $100 Billion in Remittances: UN Report”


    India Sets Record with Over $100 Billion in Remittances, UN Reports

    In a landmark achievement, India has become the first country in the world to receive over $100 billion in remittances in a single year, according to the United Nations’ World Migration Report 2024. The report, released on Tuesday, highlights India’s dominant position in international remittances and sheds light on global migration trends.

    India received an astonishing $111 billion in remittances in 2022, solidifying its position as the top remittance recipient globally. This milestone surpasses previous records, with India leading in remittances in 2010, 2015, and 2020 as well. The report underscores the significance of Southern Asia, with India, Pakistan, and Bangladesh ranking among the top ten recipients of international remittances worldwide.

    The International Organisation for Migration (IOM) report also highlights the challenges faced by migrant workers, particularly from the Southern Asia subregion. Despite being a lifeline for many families, migrant workers encounter risks such as financial exploitation, excessive debt from migration costs, xenophobia, and workplace abuses.

    The Gulf States continue to be major destinations for migrant labor, with the 2022 football World Cup emphasizing the importance of migrant workers in the region. However, the report notes rights violations and challenges faced by migrants, including those from India, Egypt, Bangladesh, Ethiopia, and Kenya, who work in sectors like construction, hospitality, security, domestic work, and retail.

    India’s role as both a top recipient and origin country for migrants is significant. With nearly 18 million international migrants and a large diaspora living in countries like the United Arab Emirates, the United States, and Saudi Arabia, India plays a crucial role in global migration corridors. The report lists India as the origin of the largest number of international migrants globally.

    Additionally, the report discusses changes in international student mobility, with China leading in internationally mobile students followed by India. The United States remains the top destination for international students, with other countries like the UK, Australia, Germany, and Canada also attracting significant numbers.

    The report also addresses irregular migration challenges, noting an increase in encounters at the United States–Mexico border, including arrivals from countries like India. The impact of the COVID-19 pandemic on migrant workers, particularly low-skilled and undocumented workers, is also highlighted, pointing to job losses, wage theft, and insecurity among Indian migrants.

    Sources By Agencies

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