India’s losing its love from Indians abroad: Deposits from NRIs and remittances from Indians abroad have reached multi-year lows in the December quarter. But foreign investors are warming up to investing directly in companies even as they walk away from public markets. Here’s our view of the RBI Transaction Data in the Balance of Payments (how boring a phrase!). Check out: What is the Balance of Payments? But we’ll make it easier for you to understand. Non Resident Indians Not Quite As Enthusiastic About India Non-Resident Indians (NRIs) usually give money to India in multiple ways, but by and large the biggest thing they do is thulp a massive amount of “ remittances ” back to India every month. India has been the highest receiver of non-resident remittances – defined by the concept that the money is sent home and doesn’t need to be returned – in the world. But that claim might be fading, as remittances fall to a level not seen in five years: This might be an aftermath of the Gulf crisis .… (Read On…)
[via Capital Mind]
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