Wednesday, February 8, 2023
  • SIGN IN
SUBSCRIBE
Pravasi Indians Magazine
  • Home
  • Books
  • Business
  • Culture
  • Diaspora
  • Spaces
  • Interviews
No Result
View All Result
  • Home
  • Books
  • Business
  • Culture
  • Diaspora
  • Spaces
  • Interviews
No Result
View All Result
Pravasi Indians Magazine
SUBSCRIBE
  • SIGN IN
Home Cover Story

GIVING BACK TO THE HOMELAND

GIVING BACK TO THE HOMELAND

NRI remittances to their families indirectly and invisibly have helped the Indian economy grow at an impressive rate

BY PARSA VENKATESHWAR RAO JR

The money that NRIs had sent back to India through monthly remittances to their families, rupee and dollar deposits in Indian banks, and investment by buying or constructing a house indirectly and invisibly helped the Indian economy grow at an impressive rate after the 1991 economic reforms. Major changes have occurred in the patterns of remittances over the years, especially from 2016-17 onward.

It is not Kerala that receives the highest remittances anymore, it is Maharashtra. And it is not the Gulf countries but the advanced economies like the United States, the United Kingdom, Canada, and South Africa that are the source of increased remittances. While emigrants to the Gulf countries were the low-skilled labour, the better skilled workforce is now moving to the AEs. And the change did not come about during the Covid-19 breakdown, but a few years before that. The share of remittances from the GCC countries went down from 50 percent in 2016-17 to 30 percent in 2020- 21, and the share of the AEs stood at 36 percent in 2020-21. And the US accounted for 20 percent of the remittances to India.

Soumashree Tewari and Ranjeeta Mishra, who work with the Department of Economic Policy and Research with the Reserve Bank of India (RBI), have done an interesting analysis of the patterns of remittances—a crucial part of foreign fund inflows into the country—and the countries which contribute to it. The authors have noticed the impact of Covid-19 on the NRI remittances.

Much of the skilled labour is now moving to the better-paid AEs for employment, but the emigration of low-skilled labour from Uttar Pradesh and Bihar continues to go towards the Gulf countries. Kerala was the leading state in terms of remittances from the NRIs in the GCC, but now it is Maharashtra that receives larger remittances from emigrants to the AEs. Maharashtra received 35.2 percent of the remittances in 2021, followed by Kerala (10.2 percent), Tamil Nadu (9.7 percent), and Delhi (9.3 percent).

It is now reckoned that 46 percent of Indian emigrant labour is in three countries, the UAE, the US, and Saudi Arabia. In 2000, the distribution of Indian emigrants was: 11.6 percent (UAE), 13.2 percent (US), 12.3 percent (Saudi Arabia). In 2020, the distribution is: 19.4 percent (UAE), 15.2 percent (US), and 14 percent (Saudi Arabia).

In 2021, the low- and middle-income countries like India received $87 billion through remittances, and it was more than the remittances received by China and Mexico, which got $53 billion, the Philippines ($36 billion) and Egypt ($33 billion) in the same income group.

It was common wisdom in the 1990s that China’s market reforms were fuelled by remittances sent home by overseas Chinese. The story of Indian expats doing their bit for powering the Indian market economy needs to be told and acknowledged.

The writer is a New Delhi-based journalist who has worked with The Indian Express, India Today, Gulf Today (Sharjah), The Straits Times (Singapore), tehelka.com and DNA

Tags: #75yearsofindependence#expatindians#flavours#india#IndianDiaspora#indianeconomy#indianexpats#indiansabroad#NRI#pravasiindians
ShareTweetShare

Related Posts

LOSING THE PLOT
Cover Story

LOSING THE PLOT

January 23, 2023
FROM BOOM TO BUST
Cover Story

FROM BOOM TO BUST

December 30, 2022
THE NEW FRONTIER
Cover Story

THE NEW FRONTIER

December 26, 2022
ON THE CUSP OF A REVOLUTION
Cover Story

ON THE CUSP OF A REVOLUTION

December 26, 2022
NOTHING PERSONAL ABOUT SUNAK-MODI EQUATION
Cover Story

NOTHING PERSONAL ABOUT SUNAK-MODI EQUATION

November 26, 2022
UK’S MAN OF THE HOUR
Cover Story

UK’S MAN OF THE HOUR

November 24, 2022

Comments 1

  1. 090 says:
    3 months ago

    each time i used to reaqd smaller possts which also cclear thyeir motive, andd that iss apso happening witfh
    tuis article which I amm eading now.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • “Komagata Maru Way” to be designated as a portion of Canadian roadway
  • Four Indian-American Lawmakers appointed
  • History of Indian Diaspora in USA
  • Government of India Celebrates 17th Pravasi Bhartiya Divas at Indore
  • Famous Indian Diasporas in Australia

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • February 2021
  • November 2020
  • October 2020

Categories

  • Arts & Culture
  • Books
  • Business & Economy
  • Cover Story
  • Culture
  • Diaspora
  • E-magazine
  • Economy
  • Environment
  • Food and Travel
  • Guest Article
  • Heritage
  • Interviews
  • Lifestyle
  • Literature
  • Mixed Bag
  • Musings
  • Perspective
  • Philanthropy
  • Publisher's Note
  • Society
  • Soul Connections
  • Spaces
  • Special Feature
  • Spotlight
  • Travel
  • Trending Now
  • Uncategorized
  • Wellbeing
  • World
  • Young and Restless
Remember Me
Register
Lost your password?
Pravasi Indians Magazine

Pravasi Indians has become the voice of millions of overseas Indians spread across diverse regions of the world. A joint venture of M/s Template Media and GRC India, this magazine is the first publication exclusively dealing with a wide gamut of issues that matter to the members of Indian diaspora.

Contact Us

M/s Template Media LLP
(Publisher of PRAVASI INDIANS),
Rudraksha Apartment (Top Floor),
Opposite Ambience Tower,
Kishangarh, Vasant Kunj,
New Delhi-110 070
www.pravasindians.com

Connect with us at:

Mobile: +91 89209 54252
Email: info@pravasindians.com

Categories

  • Arts & Culture
  • Books
  • Business & Economy
  • Cover Story
  • Culture
  • Diaspora
  • E-magazine
  • Economy
  • Environment
  • Food and Travel
  • Guest Article
  • Heritage
  • Interviews
  • Lifestyle
  • Literature
  • Mixed Bag
  • Musings
  • Perspective
  • Philanthropy
  • Publisher's Note
  • Society
  • Soul Connections
  • Spaces
  • Special Feature
  • Spotlight
  • Travel
  • Trending Now
  • Uncategorized
  • Wellbeing
  • World
  • Young and Restless

Quick Links

  • About Us
  • Advertise With Us
  • Archives
  • Our Team
  • Support Us
  • Privacy Policy
  • Terms and conditions
  • Contact Us

Copyright @ Template Media LLP. All Rights Reserved.

No Result
View All Result
  • Home
  • Books
  • Business
  • Culture
  • Diaspora
  • Spaces
  • Interviews

Copyright @ Template Media LLP. All Rights Reserved.