India receives record breaking remittance of US$70 billion in 2012
This information was shared by the Overseas Indian Affairs Minister Vayalar Ravi in the Parliament of India, and he had quoted this number from a World Bank report.
India had received over $ 66.13 billion in remittances in the year 2011-12 while in 2010-11, the amount was $ 55.62 billion. The remittances to the country through private transfer of funds have been on the rise in the last few years. India received $ 53.63 billion in 2009-10 while in 2008-09, the amount was $ 46.9 billion