INDIA: Global recession leads to decreased remittances from Punjab NRIs

The global economic recessionary trends have resulted in lesser remittances by the Non-Resident Indians (NRIs) to their native places in Punjab.

Ludhiana, Dec 23 : The global economic recessionary trends have resulted in lesser remittances by the Non-Resident Indians (NRIs) to their native places in Punjab.

According to experts, this year the number of these NRI visiting India has come down by 25 to 30 per cent. As against previous year's figure of 6,77,000, Punjabis from abroad visiting their homes in India, this year it has been estimated to be just 300,000.

"NRI from United States going to India is less by 25 to 30 per cent. NRIs visiting India from England and European countries like Italy and Holland have also been reduced," said Kamaljeet Hayre, Perisdent NRI Sabha, Ludhiana. Read more