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India's Remittance Market Growth
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Overview
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India's international remittance market experiences significant growth, with inbound remittances reaching US$146.02 billion in 2024 and projected to hit US$212.96 billion by 2028. Outbound remittances rose to US$13.11 billion in 2024, with an estimated increase to US$18.99 billion by 2028.
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How might the growth in inbound remittances impact India's economy and domestic consumption?
In what ways could the growth in India's remittance market influence global financial flows and currency exchange rates?
What factors are driving the increase in outbound remittances from India, and how might this trend evolve?
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