India highest remittance earner: WB

  • 02/04/2003

  • Pioneer (New Delhi)

Immigration of Indian workers to the United States has made the country lose 0.24 to 0.58 per cent of its GDP in 2001. The World Bank's development report on global finance however says, the loss is made up with remittances, which made up an estimated 2.1 per cent of the GDP. The report says, India is the highest remittance-earner compared to other developing nations. Apart from the US, the Gulf Region (Saudi Arabia) figure as the highest sources for remittances to Indian workers. Incidently, the Planning Commission's war monitor cell set up on Monday has made inward remittances a part of its study package on the Iraq war.