Pulitzer Prize

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• India remained the world’s largest remittance recipient in 2024 with ~US$137 billion — only country to cross US$100 bn.

• Top remittance recipients (2024):
1. India
2. Mexico
3. Philippines

• Report: World Migration Report 2026 by International Organization for Migration (IOM), Geneva.

• Remittance = money sent by migrants/NRIs to home country; counted under Current Account of Balance of Payments (BoP), not Capital Account

• India has remained top remittance recipient since 2010.

• Major remittance-sending countries in 2024: USA (largest), followed by Saudi Arabia, Switzerland and Germany.

India-related connection:
Large Indian diaspora in Gulf countries + USA is a major reason behind India’s high remittance inflow; diaspora also supports forex reserves and rupee stability.

Asked in UPPSC: https://t.me/bpscweb/36890
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BoP/ Balance of Payment

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