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- India with an inflow of $129 billion emerged as the topmost recipient of remittances in 2024.
- India received the highest remittances in 2024, followed by Mexico, China, Philippines and Pakistan.
- The growth rate of remittances in 2024 is estimated to be 5.8 per cent as compared to 1.2 per cent registered in 2023.
- The remittances to low-and middle-income countries (LMICs) are expected to reach $685 billion in 2024.
- In the past decade, remittances increased by 57 per cent, while FDI declined by 41 per cent.
- The gap between remittances and Foreign Direct Investment (FDI) is likely to widen further in 2024.
- Remittance flows to South Asia are expected to register the highest increase in 2024.
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