economy
What are remittances?
Nov 25, 01:11

Remittances refer to money sent by migrant workers to their home countries. For many low income and developing countries, this is an importance source of foreign capital second only to development aid. While India is the recipient of large capital flows from investors who want to buy equity shares or build factories here, remittances still make for a significant portion of foreign capital. Indeed, India is the largest recipient of remittances, mainly from the Gulf nations. With COVID-19 gripping the world, these flows are set to dip in 2020. Some states such as Kerala (which accounts for 20 percent of inflows into India) will feel the pain more. ‚Äč

Remittances (1)