Current Affairs - Economy - Discussion

According to the Reserve Bank of India (RBI) Remittances Survey for 2023-24, the United States has overtaken the United Arab Emirates (UAE) as India's largest source of remittances. The US contributed 27.7% of total remittances to India, surpassing the UAE's contribution of 19.2%. This shift is attributed to an increase in skilled professionals migrating to advanced economies, leading to higher remittance inflows from countries like the US, the UK, Canada, and Australia, while Gulf Cooperation Council (GCC) nations' share has decreased.