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    India World’s Largest Remittance Recipient Country

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    India is the top remittance recipient country in 2016 surpassing China, the Philippines and Bangladesh, said a UN study. Indians working overseas sent $62.7 billion in 2016, compared to China’s $61 billion. The Philippines got $30 billion and Pakistan $20 billion.

    New Delhi (Sputnik) — The UN International Fund for Agricultural Development’s ‘One Family at a Time’ study said that around 200 million migrants globally sent more than $445 million in 2016 as remittances to their families back home.

    The study was carried out by the International Fund for Agricultural Development of United Nations covering the migration and remittance flows between 2007 and 2016. The study said 80 percent of remittances are received by 23 countries and among them India, China, Philippines, Mexico and Pakistan are the main recipients.

    The UN report charts out that the US, Saudi Arabia and Russia as the leading countries from where remittances are being sent to several countries around the world. The UN report said that the flow of remittances have also grown over the period. It was $296 billion in 2007 while in 2016, the amount rose to $445 billion.

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