Now India is going to make another world record this year. | Dollars will rain on India.

Dollars will rain on India:

 

India has always been a powerful country. The reason for this is the people here and their work system. This is why people from here go abroad and do wonders. Somebody abroad is holding the post of Prime Minister. At the same time, many Indians hold important positions in the government of foreign countries. Today India is going to make another record. The record is also such that don't ask.

 

In another case, India is about to score a century. This century will prove to be a big achievement for India. Let us now try to understand the whole matter in detail. The World Bank has predicted for India. In this prediction, the World Bank told that India will make a record in terms of remittance. This will be the first time that a country's remittances will cross $100 billion.

 

Let me tell you, till now this figure has not been touched in any country. According to the World Bank, India's remittance was 7.5% last year, which will increase to 12% this year i.e. 2022. Now consider India's remittance in billion dollars. Last year i.e. in 2021, India's remittance was 89.4 billion dollars, which will reach 100 billion dollars in 2022. That is, it is increasing year by year.

 

Now there is a problem in understanding the figure of 100 billion dollars, then tell that this figure is more than Mukesh Ambani's net worth. Currently, Mukesh Ambani's net worth is $96 billion. This means the money as much as Mukesh Ambani's total assets in India will come in the year 2022. 

Now let's understand, what is a remittance. When a migrant means who leaves his country and goes to earn abroad, sends money to his country of origin, it is called remittance. It is a means of earning foreign exchange. Remittances are an important source of household income for low- and middle-income countries. 

In the case of remittances in India, the contribution of Indians settled in Gulf countries is the highest. Apart from this, remittances also come to India from developed countries like America, Britain, Australia, and Canada. Now according to the World Bank report, which are the other countries that will be on top in terms of remittances?

 

Also know that India will come number one with $100 billion. After this comes the number of Mexico, which will get a remittance of $ 60 billion. The third number is China, China can get a remittance of $ 51 billion. The Philippines is the fourth country, which can get a remittance of $ 38 billion. The last i.e. fifth number is Egypt which will get a remittance of $32 billion. 

Now this question must be coming to your mind why there is so much remittance in India? So tell that the people of India do good jobs in high-income countries like America, Britain, and Singapore, from which they get good salaries. After fulfilling their needs, they send this money to their native country i.e. India. In recent times, due to the structural shift in qualification, Indian expatriates have also changed the restoration of their work.

 

That is, according to their skills and degrees, people are turning to those countries from where they are expected to get good money. If you become aware of other reasons for increasing remittances. Countries around the world are now slowly moving towards normal life from Corona. This has increased the demand for strong labor in the world market, which Indians are fulfilling. 

And even the vaccination of Corona has done wonders. Due to the convenience of vaccination and inclusion, people are increasingly turning to foreign countries. Now let's get acquainted with the statistics of the Ministry of External Affairs. According to the data of the Ministry of External Affairs, till July this year, more than 13 lakh Indians have gone abroad for jobs.

 

On the other hand, if we look at the figures for the last two years, then between January 2020 and July 2022, more than 28 lakh Indians migrated abroad for jobs. India's treasury will increase with this huge amount, as well as India's reputation will also increase.

 

If you like the information then do not forget to comment on our site www.tradeipohub.co.in. Also, stay with us for business-related news.