The migration and development brief issued by the World Bank has published data on the remittances made to countries by individuals living outside the country.  The total inflow of capital from Non Resident Indians (NRI) for the year 2008 was $52 billion.  India is the biggest recipient of remittances in the world.  India is followed by China with remittances totalling $40.6 billion and Mexico with $26.3 billion.
$52  million is more than two times the size of India’s Annual Defence budget. It is bigger than India’s total IT exports and India’s annual trade with the US and is the same as India’s annual trade with China ( Our biggest  trading partner )
Increasingly Indians living abroad are also beginning to look at India as an investment option that offers better returns than the countries they live in.
Countries like the United States and Briton have taken advantage of the NRI’s living there by appointing them to key government positions.
The Indian Government has deregulated the banking and finance sector a lot in recent years and NRI’s can now invest a lot more. This combined with the fact that the Indian rupee is depreciating against the dollar and the Indian interest rising makes the rupee attractive for NRI investors.
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