India’s remittance trends are evolving, with the latest Reserve Bank of India (RBI) survey highlighting a shift in migration patterns. More skilled professionals are migrating to advanced economies, resulting in higher remittances from countries like the US, UK, and Canada, surpassing traditional remittance hubs like the UAE.

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• United States overtakes UAE as the top source of remittances to India, contributing 27.7% of total inflows in 2023-24.
• UAE, previously the top contributor, now holds the second position with a 19.2% share.
• Advanced economies such as the UK, Singapore, Canada, and Australia contribute over 50% of total remittances.
• GCC nations (UAE, Saudi Arabia, Kuwait, etc.) now account for 37.9% of remittances, down from 46.7% in 2016-17.
• Skilled migration on the rise: The US attracts highly skilled Indian professionals, with 78% employed in high-paying fields like management, business, science, and arts.
• UAE remains a hub for blue-collar jobs, especially in construction, healthcare, and hospitality sectors.
• Maharashtra has overtaken Kerala as the largest recipient of remittances, now receiving 20.5% of total inflows.
• India’s global share of remittances has increased from 11% in 2001 to 14% in 2024, with a projected rise to $160 billion by 2029.
• Digital remittances are growing, with 73.5% of remittances being received via digital platforms, reducing transaction costs.
• Shift in workforce dynamics: The decline in remittances from GCC nations reflects a broader shift toward skilled migration and higher-value remittances.