Overseas Indians send USD235 bn in remittances back to country

Money from overseas Indians has been pouring in as a whopping USD235 billion flowed into the country in remittances in the last three-and-a-half years, revealed Minister of State for External Affairs VK Singh while replying to a question in Parliament.

India received USD 69.64 billion in remittances in 2013-14. The corresponding figure in 2014-15 was USD 69.82 billion and USD 65.60 billion in 2015-16.

In addition to this, the volume of remittances in the first six months of the current fiscal was USD 30.43 billion.

NRIs send USD235 billion in remittances to India in the last three-and-a-half years.
NRIs send USD235 billion in remittances to India in the last three-and-a-half years. Photo courtesy:compareholidaymoney.com

Singh informed the Upper House of Parliament that the figure of overseas Indians is 30.8 million who are spread over 208 countries.

When asked about the government’s steps taken to safeguard Indian citizens in US in view of the crackdown on illegal immigrants by the Trump administration, Singh said the government was aware about the Executive Order issued by the US President, adding it will do everything possible to safeguard the interests of Indians and their welfare.

He said, “The government has taken up with the US government the matter of welfare of Indian Diaspora in the US. Our Embassy and Consulates in the US are in continuous dialogue with the US authorities and local Indian community groups to address any emergent issues relating to Indian diaspora.”

To a separate question, he said there is no authoritative figure available about the number of Indians working in various cities in the US and whether they have valid visas. However, he said estimated number of overseas Indians in the US is 44.6 lakh which includes 12.80 lakh NRIs and 31.80 lakh Persons of Indian Origin.

He said 576 Indians who were found to not have proper documents have been issued travel documents for their return to India since 2014.