- Hindi News
- India Foreign Income Vs Pakistan China | All You Need To Know, World Bank, Foreign Remittances
This year, the amount of overseas Indians earning from abroad will cross Rs 8 lakh crore. This has been disclosed in the report of the World Bank.
It has been told in the report that this year, an increase of 12% can be recorded in the earnings of Indian expatriates as compared to last year. Whereas in the year 2021, this increase was only 7.5% as compared to 2020.
India is number one in terms of earning abroad and sending money to their country. Earlier also India was on the first rank in this matter. China, Pakistan, Mexico, Egypt and the Philippines lag behind India in this regard.
A look at the earnings of the expatriates of these countries…
According to the World Bank, compared to last year, migrants from all over the world sent 5 percent more earnings to their country this year.
Earnings of expatriates of Pakistan decreased
On the other hand, if we talk about the regional level, then the earnings of South Asian countries by going abroad have increased by 3.5%. But, there is a lot of disparity. That is, on the one hand, where the income of overseas Indians is expected to increase by 12%, on the other hand, this increase can be only up to 4% in Nepal. While Pakistan, Sri Lanka and Bangladesh have lost instead of increasing their foreign earnings. According to the World Bank, there could be a 10 percent decline in the income coming from outside in these countries.
India’s highly skilled force is going to America
By assessing the year 2022, the World Bank has also told which countries the migrant workers of India turn to for earning. According to the report, highly skilled workers from India go to America, UK and Japan, Singapore, Australia and New Zealand in Asia Pacific. On the other hand, less educated workers look for means of earning in Gulf countries.
The highest foreign earnings in India are coming from America
From the year 2016-17 to the year 2020-21, the earnings of migrants in India from America, UK and Singapore increased from 26 to 36 percent. While Gulf countries’ earnings have declined by 26 percent in these 4 years. In the year 2016-17, it was 54 percent of the total earnings, which decreased to 28 percent in the year 2020-21.
More than 20 percent of India’s expatriates in UK and US
The World Bank has told in its report that 20 percent of the overseas Indians live only in the US and the UK. According to US Senses, in the year 2019, 50 lakh Indians were living in America. One of the major foreign earnings from America is the highly skilled force that goes to India. About 43 percent of people born in India and living in the US have a bachelor’s degree, while only 13 percent of people born in the US do so.
There is more news…