India Leads Global Remittances with $137 Billion in 2024, UN Report Reveals
India received $134 billion in remittances in 2024, highest in the world, says UN report
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India emerged as the world's leading remittance recipient in 2024, receiving over $137 billion, according to the UN's International Organization for Migration. This figure marks a significant increase from previous years, with India being the only country to surpass $100 billion in remittances, followed by Mexico, the Philippines, and France.
- 01India received over $137 billion in remittances in 2024, the highest globally.
- 02The country has been the top remittance recipient since 2010.
- 03High-income nations, especially the USA, are the main sources of these remittances.
- 04South Asia is projected to experience an 11.8% growth in remittances.
- 05India is leveraging its diaspora to transform brain drain into brain gain.
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According to the World Migration Report 2026 released by the International Organization for Migration (IOM), India received over $137 billion in remittances in 2024, solidifying its position as the world's top remittance recipient. This marks a significant increase from $53.48 billion in 2010, with remittances growing steadily over the years. Following India are Mexico, the Philippines, and France, but India remains the only country to surpass $100 billion in remittances. The report highlights that high-income countries like the United States, which sent over $100 billion in remittances, are the primary sources. South Asia is expected to see the highest growth in remittances, driven by strong inflows to India, Pakistan, and Bangladesh. Furthermore, the report discusses India's efforts to turn brain drain into brain gain by engaging its diaspora in technology and innovation sectors, showcasing initiatives to attract skilled professionals back to the country.
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The significant remittance inflow supports India's economy, providing financial resources for families and contributing to development projects.
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