Millions of Indians live and work abroad, sending billions of dollars back home every year. According to a recent Reserve Bank of India (RBI) report, remittances to India reached a record $129.4 billion in 2024, with $36 billion sent in the December quarter alone. The report highlights a 63% surge in remittances since 2020, largely due to improved job markets in high-income countries.

The report states that nearly half of the Indian diaspora is based in Gulf countries, including the United Arab Emirates (UAE), Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain. These countries alone contributed $45 billion, accounting for 38% of total remittances to India last year.

Among these nations, the UAE tops the list. In 2020-21, UAE accounted for 18% of India's total remittances, which increased to 19.2% in 2023-24.

Indians in the Gulf work across diverse sectors, including:

• Construction: Masons, carpenters, pipefitters

• Healthcare: Doctors, nurses, medical technicians

• Manufacturing and Engineering: Factory workers, supervisors, engineers

• Transportation and Logistics: Drivers, warehouse managers

• Hospitality and Services: Hotel staff, customer service representatives

• Information Technology: Software developers, IT consultants

The large Indian workforce in these countries is the key reason behind the high remittance flow. Many families in India depend on these earnings, making remittances a crucial part of India's economy.