Pakistan 4th largest source of remittances to India

[Roybot]

I think, this is just one off transactions, probably some crook siphoning off his money . Last year Bangladesh was the 4th biggest remittance corridor to India, this year its nowhere in the top 10, what gives?. Its almost as if people abruptly stopped remitting.

 

[Daneshmand]

Looks like Pakistan has lots of Indian working and sending remittance back to India. What if it was other way round if Pakistanis in India were sending money back to Pakistan ? We would have Bhakts screaming and threatening.

Pakistan 4th largest source of remittances to India | Business Standard News

Pakistan 4th largest source of remittances to India
India tops remittance receipts globally with $72.2 billion, says World Bank report
BS Reporter | New Delhi December 24, 2015 Last Updated at 00:30 IST

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  Surprising as it may seem, but Indians who have migrated to Pakistan are expected to remit back home a staggering $4.9 billion in 2015. This would make Pakistan the fourth largest source of India's remittances this year, according to a new study by the World Bank.
  
  Another interesting statistic the study throws out is that the Bangladesh-India corridor ranks third in the list of top migration corridors behind the Mexico-US and the Russia-Ukraine corridors. Bangladeshi migrants residing in India are expected to remit $4.6 billion back home in the current year.
  
  Total remittance flows to India are expected to touch a staggering $72.2 billion in 2015, making it the highest recipient worldwide, says the World Bank's Migration and Remittances Factbook 2016. China ranks second, with remittance flows expected to touch $63.9 billion, followed by the Philippines ($29.7 billion), Mexico ($25.7 billion) and France ($24.6 billion).
  
  Globally, remittances are estimated to exceed $600 billion in 2015. Of this, developing countries are expected to receive a lion's share estimated at $441 billion.
  
  To put this figure in perspective, this amount is roughly three times the official development assistance these countries receive. But, this figure might well be underestimated, too. As these figures don't include unrecorded flows through formal and informal channels, the actual size of remittances is likely to be significantly larger than what the report noted. Migrants from India are largely concentrated in the United Arab Emirates (2.3 million), followed by the US (2.1 million), Saudi Arabia (2 million) and Pakistan (1.4 million). These four countries along with Kuwait and Qatar account for roughly 69 per cent of total remittance flows into India.
  
  The UAE leads the pack with transfers through this corridor expected to touch $13.2 billion in 2015. It is followed closely by the US ($11.5 billion), Saudi Arabia ($11 billion), Pakistan ($4.9 billion), Kuwait ($4.8 billion), and Qatar ($4.2 billion).
  
  
  
  The top migrant destination is the US, followed by Saudi Arabia, Germany, Russian, UAE, the UK, France, Canada, Spain, and Australia. India is the top emigration country with 13.9 million emigrants, followed closely by Mexico at 13.2 million and Russia at 10.9 million.
  
  Worldwide, high-income countries are the main source of remittances. The US tops the list with an estimated $56.3 billion in outflows in 2014. Saudi Arabia ranks the second, followed by Russia, Switzerland, Germany, UAE, and Kuwait.

The data is indeed very interesting.

Pakistan being the fourth largest cash giver to India, is really surprising. Just after UAE, US and Saudi Arabia, the countries which are flush with cash with one of them actually running the printing press of dollars.

Very surprising.

 

[Mr.Nair]

Half of remittances from UAE go to India - Khaleej Times

India's diaspora population is mostly concentrated in Asia (11 million), Americas (five million), Middle East (4.2 million), Africa (2.8 million), Europe (1.8 million) and Oceania (one million)

 

[Ragnar]

Seems weird though.. Neither country is a tax haven.


India top 3rd country to send remittances to Pakistan - Daily Pakistan Global

RAW and ISI should perform a joint investigation.

 

[Mr.Nair]

India remittance figure most likely 100 billion dollar by 2020

@Zarvan @Areesh @RiazHaq

 

[Force Awakens]

@war&peace @farhan_9909 @oprih @ArsalanKhan21 @save_ghenda @RiazHaq

The World bank report on which this report is based also says that Pakistan received $2.061 billion of remmitances from India in 2014 which amounts to 11.5% of total remmitances to Pakistan whereas for India remmitances from Pakistan amounts to only 6.8% of total remmitances.

Additionaly as a % of GDP Pakistan whose GDP in World Bank 2014 report is ~$250 billion means that remmitances from India accounts for 0.82% of Pakistan's GDP whereas for India remmitances from Pakistan accounts for only 0.24% of GDP(India's GDP in 2014 World Bank report is $2066 billion).

 

[Mr.Nair]

Indian remittance figure is now almost 30% of pakistan's gdp

 

[Force Awakens]

@farhan_9909 @oprih @ArsalanKhan21 @save_ghenda @Areesh @RiazHaq

India is the third largest source of remmitances to Pakistan.

endailypakistancompk/business/india-top-3rd-country-to-send-remittances-to-pakistan/

See @Ragnar post for full link

 

[Shinigami]

Seems weird though.. Neither country is a tax haven.


India top 3rd country to send remittances to Pakistan - Daily Pakistan Global

RAW and ISI should perform a joint investigation.

making a thread out of this

 

[Pandora]

@war&peace @smuhs1 @oprih @ArsalanKhan21 @save_ghenda

The Same world bank report says that the remittance figure was Zero between the years 2009-2012(data prior to 2009 was not available).
So I think that there must some error as there is no way 1.4 million Indians moved to Pakistan in two years.

ET NOW is reporting that the report could have miswritten Pakistan in place of UK.

That makes more sense

 

[my2cents]

In 2014, Bangladesh was 5th largest source for remittance for India

BD 5th remittance source of India - The New Nation
BD 5th remittance source of India

Published at: 28th-Feb-2014

DESPITE India's so-called regional superpower status and Bangladesh's tiny economic outlook, one may believe it or not but Bangladesh is now the fifth largest remittance earning source for India. A Bangalore based magazine has disclosed that expatriate Indians working in Bangladesh have successfully drained away US$ 3,716 million alone last year as half a million Indians are now working in Bangladesh; mostly in the readymade garment industry and in NGOs'. While most Indian media and politicians are continuously making the point that India is inundated by illegal migrants from Bangladesh, the report in Silicon India showed that the reverse is actually true . It tells us that it is not only the richer countries but Bangladesh also which is providing employment to the bulk of Indians and they are sending a overwhelming flow of remittance to their homes. The report mentioned about scores of illegal immigrants from the Indian states of West Bengal, Meghalaya, Assam, Tripura and Mizoram who have entered Bangladesh and joined the job market. The Indian central government's documents also confirmed the fact as per the news report. As we see, the World Bank figure showed that India earned the highest value of remittances in the world. It earns US$ 71 billion annually followed by China which earns $60 billion. It is indeed surprising that Bangladesh rests in the list of India's top remittance sources along with the world's top developed nations. According to descending order of earning, Bangladesh stands fifth among India's top remittance providers only next to UAE, USA, KSA and UK. Last year Bangladesh provided 5 percent of the total remittance earnings of India which had a eight times larger population and a 23 times larger landmass. Estimations suggest that the rising flow of remittance will only exponentially increase in the near future. We know in an age of free trade and mobility of capital it is very natural that the two countries with a long shared border and economic potentials will reciprocally share their resources to develop the region. But, it does not take an economist to know that India only believes in one-way traffic and it wants to be at the receiving end. Apart from regular killings, rapes, intimidation and torture of unarmed people on the high rise barbed border, Bangladeshis' are clearly not getting similar treatment from India when it comes about job opportunities or duty free export access into the Indian market. India's exports to Bangladesh are now around $10 billion including remittances while our exports to India now stands at around $600 million. This is definitely not the win-win situation and can only be compared with a colonial trading system. The breaking of the news by the Indian magazine has come as an eye opener to the nation and we suggest that the government take a review of the situation to apprise the nation of the reality in the ground. We don't know about the employers and the internal police verification system. We don't know how Bangladesh Bank is monitoring transfer of money by Indian expatriates. Some politicians may compromise, but the nation must take hold of its affairs.

Just look at your OP. It clearly says that number of migrants from Bangladesh to India is 3.2 million and they remit back to BD to a tune of $4.6 billion. Even assuming your post is correct about Indian working in BD in huge numbers and they are sending $3.7 billion back to India, the net flow is in favor of BD by $900 million.

Now coming to Pakistan, we all know that not many Indian are working in your country. So these $4.9 billion remittances are not wages but hawala transactions that are taking place for trade through Dubai. That is the only explanation that sounds right to me. Time to open up the trade through your border and start collecting taxes.

These are Altafis mostly sending their extortion money back home to support their families..this may sound like a joke..but many Altafis actually support their family back in India via their earnings in Pakistan....Many of these Altafis saw civilization for the first time in their generations after arriving in Pakistan...

Who are Altafis??? How many of these are in Pakistan??

It's save to say without Pakistan money millions of Indians will die of hunger. Agher ghareeb logon ka bala hota hai to phir koi masla nai. We have big hearts after all.

Thanks! Now you know the secret, what are going to do about it?? Just curious....

The data is indeed very interesting.

Pakistan being the fourth largest cash giver to India, is really surprising. Just after UAE, US and Saudi Arabia, the countries which are flush with cash with one of them actually running the printing press of dollars.

Very surprising.

Pakistan is also printing press of fake indian currency. They ship it via nepal and bangladesh.

 

[Sugarcane]

Migrants from India are largely concentrated in the United Arab Emirates (2.3 million), followed by the US (2.1 million), Saudi Arabia (2 million) and Pakistan (1.4 million).

I don't have problem with $5 b, but who and where the hell are these 1.4 million Indians. Find out and kick them out.

 

[Joseph Goebbels]

Lol how is that even possible. How indians are even allowed to work in Pakistan? I seriously doubt the figures as 4.9$ is a massive amount.

so is corruption .

 

[ranjeet]

I thought Pakistanis knew about it.

 

[chhota bheem]

Ghareebo pr Allah hamesha mehrbaan
Hamara parosi pyara hindustan

Some years back i read that majority of the world NGO's works in india

As you always like to say,that you left some behind for a purpose.

but shows we sent some with a purpose .lol

I don't have problem with $5 b, but who and where the hell are these 1.4 million Indians. Find out and kick them out.

do you have 1.4 million army, our agents are more than your army and other agencies combined.

it has to be some business involved ,and small business in Pakistan making payments for the items import from India via third country.