India’s Changing Remittance Landscape: From Gulf to Advanced Economies
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India recently hit a major milestone in its global remittance story. According to the Reserve Bank of India’s (RBI) Sixth Round of Remittances Survey, for the first time in decades, remittances from advanced economies (AEs) like the United States, United Kingdom, Canada, and Australia have overtaken those from the Gulf Cooperation Council (GCC) countries. This shift reflects a deeper change in migration patterns, labour demand, and the nature of the Indian diaspora overseas.
Declining Role of Gulf Countries
- Historically, the Gulf countries
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