United Nations: India remained the world’s largest recipient of remittances in 2024, receiving more than $137 billion from overseas Indians, according to the latest report released by International Organization for Migration (IOM).
The findings were published in the World Migration Report 2026, which highlighted India’s continued dominance in global remittance inflows and its growing role in international migration trends.
India crosses $100 billion milestone again
The report noted that India was the only country in the world to receive more than $100 billion in remittances during 2024.
India received around $137.67 billion in remittances last year, significantly ahead of other major recipient countries such as Mexico, Philippines, and France.
According to the report, India has consistently remained the world’s leading remittance recipient since 2010. Remittance inflows to the country have steadily increased over the years:
- 2010: $53.48 billion
- 2015: $68.91 billion
- 2020: $83.15 billion
- 2024: $137.67 billion
South Asia records highest growth
The report stated that South Asia recorded the highest remittance growth globally in 2024 at 11.8 per cent.
This rise was mainly driven by strong inflows to India, along with increases in remittances to Pakistan and Bangladesh.
High-income countries continued to remain the primary sources of remittances worldwide.
US remains top remittance-sending country
The United States retained its position as the world’s leading remittance-sending nation, with total outflows crossing $100 billion in 2024.
Other major remittance-sending countries included:
- Saudi Arabia – over $46 billion
- Switzerland – around $40 billion
- Germany – nearly $24 billion
Indian students abroad among highest globally
The report also highlighted India’s strong presence in global education migration. India ranked second in the world for the number of students studying abroad, with more than 6.2 lakh Indian students overseas in 2022.
Only China had a higher number of international students abroad.
The report noted that over half of the world’s internationally mobile students currently reside in Europe and North America.
Indian diaspora driving technology growth
The IOM report recognised the Indian diaspora’s major contribution to the expansion of India’s technology sector.
It highlighted initiatives aimed at converting “brain drain” into “brain gain”, including diaspora conventions, innovation hubs, and mentorship programmes encouraging Indian scientists and entrepreneurs abroad to contribute to India’s development.
The report added that such programmes have helped strengthen India’s research, innovation, and startup ecosystem.
India among top countries for disaster displacement
The report also pointed to climate-related migration challenges. India recorded over 50 lakh internal disaster displacements in 2024, mainly caused by floods, storms, and cyclones.
Only the Philippines recorded higher disaster-related displacement figures in Asia.
Conclusion
India’s position as the world’s largest remittance recipient underlines the growing economic influence of its global diaspora. The record inflows continue to play a crucial role in supporting household incomes, consumption, education, and economic stability across the country.