South Asia and Beyond

India Tops Global Remittances

The World Bank recently released its annual tracker on global remittances for 2023. It showed that globally remittances at $669 billion grew higher than forecast. India, like always, was the top recipient with $125 billon—accounting for little under fifth of the global remittances in 2023.

According to the World Bank, a distinctive feature of remittances to India is the shift away from blue-collar workers to white-collar workers based in Europe, Australia and the United States.

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To unpack this trend, Anil Padmanabhan spoke with Rituparna Chakraborty, co-founder of TeamLease.