New Delhi: A recent survey conducted by the Reserve Bank of India (RBI) suggests that India continues to be the leading country with a total of $69 billion received as remittances last year with a large chunk of skilled, semi-skilled and unskilled Indian migrants working across the world. Four of India’s southern states including Kerala, Tamil Nadu, Andhra Pradesh and Karnataka account for almost half of its total remittances received. The report noted that these states had a share of about 46 per cent or $31.74 billion (Rs 2.39 crore) of the total remittances country received last year from its citizens working in different parts of the country.

The report further stated that Kerala topped the list of state-wise share in inward remittances with receiving 19 per cent ($13.11) of the total remittances. 58.7 per cent of total remittances received in 2017 were from four states including Kerala, Maharashtra, Karnataka and Tamil Nadu. Apart from Kerala, Maharashtra got a total of 16.7 per cent ($11.52 billion) remittances and Karnataka 15.0 per cent ($10.35 billion).

Apart from these, Delhi received total remittances of 5.9 per cent, Andhra Pradesh 4.0 per cent, Uttar Pradesh 3.1 per cent and West Bengal 2.7 per cent. The RBI report went ahead to highlight that countries such as the US, Saudi Arabia, Qatar, Kuwait, the UK and Oman were highest contributors with 82 per cent of the total remittances came from them.

Indians working in The Gulf Cooperation Council (GCC) countries – mostly semi-skilled and unskilled workers – sent more than 50% of the total remittances in the financial year 2016-17, the report added. More than 90 per cent of the total Indians working abroad are employed in the Gulf region and South East Asia. US, with Indian residents who are highly skilled, emerged as the second largest contributor.

According to RBI study, more than half of this amount was used for family maintenance, while 20 per cent were deposited in banks, followed by investments in land and property and shares at 8.3 per cent. The study by the central bank was largely corroborated by surveys conducted by various multilateral agencies such as ILO 2018. India topped the list of countries with highest inward remittances followed by China ($64 billion), Philippines ($33 billion) and Mexico ($31 billion).