Indian Diaspora Sends Record ₹11.63 Lakh Crore in Remittances, Surpasses FDI
Unprecedented Remittance Inflows in FY 2024-25
In the financial year 2024-25, Indians living abroad sent a record-breaking $135.46 billion (approximately ₹11.63 lakh crore) back home. This is the highest amount ever received in a single year and even exceeds the total Foreign Direct Investment (FDI) inflows into India during the same period.
This surge in remittances highlights the growing prosperity of Indians abroad and their continued economic ties with their families in India.
Remittance Doubled in 8 Years
Just eight years ago, in FY 2014-15, Indian diaspora remitted around $61 billion. Since then, the figure has more than doubled, with an average annual growth of nearly 16%. This makes India the largest remittance-receiving country in the world, according to the World Bank.
In comparison, Mexico received ₹5.8 lakh crore in 2024, while China was third with ₹4.1 lakh crore in remittances.
Year-wise Remittance Data
- 2014-15: ₹6.00 lakh crore
- 2015-16: ₹5.62 lakh crore
- 2016-17: ₹5.26 lakh crore
- 2017-18: ₹5.93 lakh crore
- 2018-19: ₹6.55 lakh crore
- 2019-20: ₹7.13 lakh crore
- 2020-21: ₹6.87 lakh crore
- 2021-22: ₹7.64 lakh crore
- 2022-23: ₹9.64 lakh crore
- 2023-24: ₹10.18 lakh crore
- 2024-25: ₹11.63 lakh crore
Key Contributors to Remittance
According to the Reserve Bank of India (RBI), nearly 45% of the total remittances came from three countries — the United States, United Kingdom, and Singapore. These funds have helped offset approximately 47% of India’s trade deficit, playing a critical role in macroeconomic stability.