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date: 25 September 2017

remittances

Source:
A Dictionary of Business and Management in India
Author(s):

Peter Enderwick

remittances 

Funds that expatriates (non-resident Indians) send to their country of origin. For many developing countries remittances are one of the largest sources of financial inflows. India is one of the leading receivers of remittances, accounting for more than 10 per cent of global flows. They equate to about 4 per cent of India’s GDP.

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