Indians form the world’s largest diaspora group at around 18 million. That has led to India receiving ever-increasing remittances over the years.
In 2022, the amount has already touched $100 billion, making the country the first ever to reach the figure, World Bank data (pdf) show. “Remittance flows to India were enhanced by the wage hikes and a strong labor market in the United States and other OECD countries,” a Nov. 30 World Bank release said.
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