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NRIs Returning to India

 

Will NRI remittance surge continue?

Created by : Avijit Sarkar, Project Lead, Alcatel-Lucent  | 11 24 2008 18:59:02 +0000
Industry : Communications and NetworkingFunctional Area : India(Markets)
Keywords : NRI Continue Surge Remittance NRI Remittance
Activity:  248 views;  last activity : 07 06 2010 20:18:09 +0000
 
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An estimated $40 bn is expected this year as pure personal remittances into India. The recent financial crisis has got a lot of people questioning whether the explosive growth that this sector has seen would continue. Approximately 7-8 mn NRIs worldwide send money back home and there is definitely no reason for this trend to change.
By Avijit Sarkar, Project Lead, Alcatel-Lucent  11 24 2008 18:59:02 +0000
 
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The ever-growing Indian student community too forms an ideal base to keep the remittance numbers growing. The bottom line is that the NRI would still have his family to support back home and hence have the need to send money. To sum it up, NRI remittances would continue to surge. Maybe not at the same levels that we have seen over the past years but definitely enough to keep the Indian story going.

 
By Kush Srivastava, Project Lead, Cisco Systems  | 11 24 2008 19:02:11 +0000
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The hawala option has been shrinking in terms of value over the last few years due to the banking channels being more and more cost-effective as well as convenient. This would help add to the ‘legal’ remittance numbers that the banks and exchange companies would report.


By Bhupena Jain, Project Manager, Cisco Systems  | 11 24 2008 19:02:08 +0000
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The hawala option has been shrinking in terms of value over the last few years due to the banking channels being more and more cost-effective as well as convenient. This would help add to the ‘legal’ remittance numbers that the banks and exchange companies would report.


By Sonal Singh, Project Manager, Nortel Networks  | 11 24 2008 19:01:32 +0000
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The US economy is passing through a recessionary phase which in turn is affecting most countries in the world. The financial sector is in turmoil with major banks and financial institutions (FIs) in a bad shape. These events have caused loss of jobs. NRIs too are affected by this. However, there are many Indians abroad who will be in jobs. But still things will mellow down. With exchange rates being very volatile, things are bound to slow down
By Ravi Bajpai, Project Lead, Motorola  | 11 24 2008 19:02:27 +0000
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