In the history of India, this is the first time that from diaspora (Indian’s who live in foreign countries) India has received a record $129.4 billion in remittance in 2024. As per experts, strong economic growth, higher wages abroad, and favourable exchange rates are the reasons for this surge. It boosts India’s foreign reserve and economy. Experts predict continued growth as global job markets remain strong. Remittances play a key role in household incomes.
