An Analysis of Structure and Trends in Remittances with Particular Reference to Indo-Gulf Labour Migration
Author : Dr. Rajeev Kumar
Abstract :
In recent years, the phenomenon of international remittances has gained substantial attention due to its significant impact on both sending and receiving countries. Remittances are an inevitable consequence of the migration of workers. People move across the countries to find an employment opportunity to save and remit money to their home. Given the ever-growing magnitude of the global remittances, they have become an area of policy discourse in many developing countries. This research paper aims to examine the magnitude of international remittances with particular focus on remittances flowing into India. The study focuses on understanding the scale and significance of these financial inflows. Further, the objective of this study is to analyse the volume, patterns, and characteristics of remittances in the context of Indo-Gulf labour migration. The Indo-Gulf labour migration corridor has witnessed a spectacular surge in the migration of Indian workers to the Gulf Cooperation Council (GCC) countries since the surge in oil prices in mid 1970s. The analysis in the paper is based on the secondary data collected from national and international organisations. The findings of the study reveal that international remittances to India play a substantial role in the Indian economy. The magnitude of remittance inflows into India has witnessed significant growth over the years, reflecting the increasing number of Indian workers migrating to various countries around the world.
Keywords :
Migration, remittances, indo-gulf, West Asia, GCC
