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The report added that more than 620,000 Indian students were studying abroad, making India the second-largest source of international students globally
India continued to be the world’s largest receiver of money sent home by citizens working abroad, receiving an estimated $137.7 billion in remittances in 2024, according to the latest International Migration Report released by the International Organisation for Migration (IOM).
The figure marks a sharp rise from $83.2 billion in 2020, highlighting the growing contribution of Indians living and working overseas to the country’s economy. The report also said South Asia is expected to record the highest growth in remittances globally this year, at 11.8 per cent.
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The United States remained the world’s biggest source of remittances, sending out $103.2 billion to countries across the globe
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Saudi Arabia followed in second place with $46.6 billion
The report noted that one of the world’s largest migration routes is from India to the United Arab Emirates, where more than three million Indians currently live and work. Another major destination is the United States, home to around 3.2 million Indian migrants in 2024. Many Indians moving to the US are highly skilled professionals or students pursuing higher education.
The IOM said the Indian diaspora has played a major role in strengthening India’s technology sector, investment links and tourism. Indian-Americans have also helped improve trade ties and defence cooperation between India and the US.
India has been encouraging overseas Indians to stay connected with their homeland through diaspora events, investment opportunities and support for innovation and start-ups.
