Business & Economy News Bureau
Just like the negative thinking behind population boom, which was once considered a doom for India and its growth, faced a face down with the rise of BPO industry. So is the fact that skilled labourers are going abroad and settling there. It not only helps in earning foreign exchange (preliminary figures in the RBI annual report for the year ended June 2006 show that non resident Indian deposits were the third largest contributor to the total capital flows in 2005-06), it also helped in making India the country which receives the largest remittance in the world. According to World Bank numbers, India gets over 10 percent of the USD230 billion global remittance market.[Read more]
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