Tuesday, August 16, 2022

Covid had an effect on remittances by blue-collared Indian migrants in Gulf

The share of remittance from the US, UK and Singapore, increased largely due to the higher number of Indian-origin white-collared workers

PRAVASISAMWAD.CO)M

Remittances from the Gulf region went down in FY21 in comparison to FY17. The share of remittance from the US, UK and Singapore, increased largely due to the higher number of Indian-origin white-collared workers.

According to data, the Covid pandemic changed the dominance of Indian states which were usually considered the biggest recipients of remittances, reported The Hindu. In FY21, Kerala, which was at the top of the recipient list in FY17, recorded a fall in remittances.

Financial distress among the remitters was also witnessed as there was an increase in transactions of smaller denominations in 2020-21 compared to 2016-17

It was replaced by Maharashtra as the top recipient. Karnataka recorded a decline, while Delhi and Tamil Nadu gained remittances.

Financial distress among the remitters was also witnessed as there was an increase in transactions of smaller denominations in 2020-21 compared to 2016-17.

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Ashok Purohit
(Ashok Purohit is a senior journalist with unique understanding of content of all kinds. Primarily a sports journalist, his interest range is far and wide. He is into mainstream journalism for last 30 years. He is strategist & troubleshooter, excellent event organizer, consultant in media relations, PR & communications and market intelligence data collection.)

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