Just how much do the 27 million global desis, scattered across 190 countries around the world, contribute to the Indian economy? World Bank figures show a dramatic increase of almost 162% in the remittance that India receives from overseas Indians over the last eight years. While India received nearly $21 billion from overseas Indians in 2003, the figure jumped to $55 billion in 2010.
"India received the highest remittance in 2010 compared with any other country in the world," said Dr Alwyn Didar Singh, secretary, ministry of overseas affairs during a discussion on the Indian diaspora organised by the global think tank Gateway House. World Bank data also points to the fact that India receives the highest remittance, followed by China ($51 billion) and Mexico ($22.6 billion), Philippines ($21.3 billion) and France ($15.9 billion) in 2010.
Though there was a slight dip in remittance from 2008 to 2009, it bounced back in 2010 to a level higher than in 2008. Kerala and Punjab are currently among the states which receive the highest remittance from overseas residents