The country will witness inward remittance for the second time in a row, as even in 2007 India recorded the highest inflow of funds at $27 billion, followed by China which saw an inflow of $25.7 billion. Unlike FII flows, inward remittances are considered to be extremely sticky as this money, sent on a monthly basis by overseas Indians, is used largely for household consumption, reports The Economic Times. Read more
Wednesday, 4 February 2009
India to record $40 Billion inward remittance
Bangalore: Unfazed by the financial tsunami which blew the strongest of economies, India is expected to record the highest inflow of remittance. The inward remittance will touch more than $40 billion beyond the World Bank's projection of $30 billion in 2008. 
The country will witness inward remittance for the second time in a row, as even in 2007 India recorded the highest inflow of funds at $27 billion, followed by China which saw an inflow of $25.7 billion. Unlike FII flows, inward remittances are considered to be extremely sticky as this money, sent on a monthly basis by overseas Indians, is used largely for household consumption, reports The Economic Times. Read more
The country will witness inward remittance for the second time in a row, as even in 2007 India recorded the highest inflow of funds at $27 billion, followed by China which saw an inflow of $25.7 billion. Unlike FII flows, inward remittances are considered to be extremely sticky as this money, sent on a monthly basis by overseas Indians, is used largely for household consumption, reports The Economic Times. Read more
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