India Money: India received $ 87 billion in the form of money orders from abroad in 2021 and has been on top in this matter. This has been said in the report of the United Nations (UN). It said that the top five countries in receiving money orders from abroad in dollar form are India, China, Mexico, Philippines and Egypt.
India tops the category of low and middle income countries
According to the report, India tops the category of low- and middle-income countries with $87 billion in 2021. Whereas China and Mexico received $53 billion, the Philippines $36 billion and Egypt $33 billion. If we talk about the source of money, then America was the biggest source of remittances. It was followed by the United Arab Emirates, Saudi Arabia and Switzerland.
Challenges continue due to covid crisis
The remittances are expected to be better this year as well, but there are challenges due to the COVID-19 crisis, the report said. The WHO’s first report on Refugees and Migrants also said that today there are one out of every eight people in the world, that is, about one billion migrants.
Indians take care of family
It said the remittances have a “significant and positive” economic consequence for the migrants, as well as their families and friends, who are in their distant home countries. India’s stay in the first place in the matter of sending money back home shows that Indians take care of their financial responsibilities even after being away from their families.