Bangladesh is the 5th Highest Nations Sending Remittances to India
Date of first Publish: 21/05/2013
Source: Silicon India
Bangalore: Money is the most basic requirement for our well being. Most of the Indian parents sent their children to other countries for their higher education and for job purposes.
In fact, the amount of salary a person earns not only depend on his hard work and dedication but also depend on the country he is living in. There is a certain amount that Indian parents get from their children who are residing in other countries. Yahoo has listed out 16 of those countries that Indian expats send their money to their family in India.
1. United Arab Emirates
There are millions of Indians staying in UAE and majority of them lives in cities like Dubai, Abu Dhabi and Sharjah. It is reported that most number of Indians are willing to go to UAE because of the different opportunities that are offered in the field of petroleum, construction and other industries. India received about $14,255 million as remittance from United Arab Emirates.
This country needs no introduction. It is said that America is a country that never sleeps. It is the most developed country in all the aspects, be it science, technology, natural resources, a well-developed infrastructure, and high productivity. Indian expats who are working or settled in USA remit a whopping $10,844 million to India.
3. Saudi Arabia
The total Indian population count in Saudi Arabia back in 2000 was more than 1,500,000, which constitutes seven percent of total Indian population. Report shows that, people who work in Saudi Arabia send $7,621 million to their home as a remittance. Apart for that, in fresh trouble for Indians in Saudi Arabia, the authorities in Saudi Arabia have refused to accept new passports issued by Indian diplomatic missions. Saudi Arabia authorities have declined to transfer data from old passports to the new ones submitted by Indian expatriates for updating, saying they have not received any official information on modification.
It is one of the countries that is well developed and is the sixth largest economy in the world after Germany and France. U.K. offers outstanding opportunities in the field of education and occupation for the Indians. Research shows that about 66 percent of Indian girls achieved five or more general certificate of secondary education passed at the grades of A to C. This rate was better when compared to the white girls that were 55 percent. In fact, Indian expats who stay in U.K send $3,904 million to their home yearly.
Bangladesh is a developing country and is the eighth most populous country in the world. It is reported that there are Indians who are staying in Bangladesh and there are about 500,000 Indians presently residing. People who are migrating to Bangladesh illegally are from West Bengal, Meghalaya, Assam, Tripura and Mizoram. According to the government authorities of the country, most of them come in search of job opportunities and mostly work in NGOs, garments and textile industries. These Indians remit $3,716 million to their home country and the number is expected to increase in next few years.
Indian expats who are staying in Canada send home as much as $3,145 million. Canada is a North American country that has the world’s eleventh largest economy. It is one of the countries that exports energy.
Nepal is a country that had been a part of India and was later separated and became a separate country. We find a lot of Nepalese who are residing in India for their education purposes. Since Nepal was a part of India, there are Indians who still have continued to stay because of many different reasons. One of the main reason is work and business. Indian expats who stay in Nepal remit $ 2,934 million to their home country, India.
It is said that there are more number of Indians residing in Oman than the local people. History shows that Indians have been staying from past 100 years. Report shows that Indian expats who stay in Oman remit $2,373 million to India.
The most fascinating thing about Qatar is that it has the lowest income tax. The economic growth of the country has been mainly contributed by petroleum and natural gas industries. Qatar has been ranked as 10th on the list. Indians who stay in Qatar send $2,084 million to their home according to reports.
10. Sri Lanka
It is a country that has the highest GDP of $116 billion in terms of purchasing power parity. The country is known for its production of tea, rubber, coffee, sugar and other commodities. Since 2005, the per capita income has been increasing, which is one of the important signs of developing country. There are lots of Indians who are residing in Sri Lanka and in most parts of the country people use “Tamil” language which is one of the major south India languages.
Indian expats in Australia send $1,245 million as the remittance to India. Since, Australia is a country that is rich in market economy; it provides a wide range of job opportunities to people. In fact, most of the young Indians feel that Australia is the best place to pursue their higher education and other job opportunities.
Singapore has the most highly developed market-based economy, and it is considered as one of the freest, pioneering, most aggressive, and most business-friendly nations in the world. The most fascinating aspect about Singapore is that it is the least corrupt countries in the world next to New Zealand. Indian expats send $1,113 million to their home country, India.
Bahrain is a country that is located on an island and has been recognized as a country that was first converted to Islam. In 2008, the London’s Global Financial Centres Index named it the fastest growing financial cities in the world. Indians who stay in Bahrain are usually into the profession of extracting oil and petroleum. They usually send up to 690 million to their home country.
Italy is one of the countries that have high per capita income and low unemployment rates. Most of the Indians in Italy are into the business of dairy products. Of late, the trend might have been changed and Indians are employed in different areas of expertise. And they send $572 million to their home country.
Malaysia is a country that offers many opportunities for people across the world. Especially for youngsters, Malaysia has become their dream country to live in. Indians who stay in Malaysia send up to $493 million to their families in India as remittance.
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