Monday, March 24, 2008

NRI Remittances

It seems in the calander year 2007, India origin persons send home to India a sum of USD 27 B. This is an average of about USD 4,700 per person abroad.

Read about it .... http://economictime s.indiatimes. com/News/ Economy/Finance/ Indians_abroad_ sent_27_bn_ home_in_2007/ articleshow/ 2885060.cms It is probably the single largest item on the foreign remittance list. Long live 'brain drain' from the developed world. It is also interesting to note that the investment by India companies abroad has also shot up to such above levels.

So that should answer, who is propping up whom. Best wishes.

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