Hyderabad: Telangana was ranked fourth in terms of inward remittances, receiving 8.1% of the total, according to the Reserve Bank of India’s ‘Changing Dynamics of India’s Remittances – Insights from the Sixth Round of India’s Remittances Survey.’
Previously, Telangana did not feature in the list of top states or Union territories for remittances. However, in 2023-24, it secured the fourth spot for total inward remittances in the country.
Maharashtra received the largest share of 20.5%, followed by Kerala with 19.7%, Tamil Nadu at 10.4%, and Telangana at 8.1%.
This rise in remittances is linked to the increasing number of Indian students migrating abroad for education and employment, with Telangana, along with Punjab and Maharashtra, leading in this trend. These states have seen a growing share of India’s inward remittances.
Meanwhile, Karnataka, which previously ranked as one of the top states for remittances, contributing 15% in 2016-17, has now dropped to the fifth position, accounting for 7.7% of the total remittances.
