India to receive over record $100 bn in remittances in 2022: World Bank

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India to receive over record $100 bn in remittances in 2022: World Bank - Business Standard

Quick Summary:

Not just in India, remittances to South Asia grew an estimated 3.5 per cent to USD 163 billion in 2022.

Studies show that migration can play a role in coping with climate impacts, for example, by providing an escape from disasters and also through remittances and other forms of support to affected households.

According to World Bank, studies show that remittances help recipient households to build resilience, for example through financing better housing and to cope with the losses in the aftermath of disasters.