India, May 20 -- US President Donald Trump's proposed 5% tax on outward remittances under the One Big, Beautiful Bill threatens India's economic stability and progress toward the sustainable development goals (SDGs). This regressive move could disrupt a crucial financial lifeline for many families in India. The Indian ministry of external affairs estimates that 1.28 million NRIs and 3.18 million persons of Indian origin (PIOs) reside in the US. According to the World Bank's 2024 Remittance Report, India remains the world's top recipient of remittances, with $129 billion in 2024. A Reserve Bank of India report shows the US as the largest source, with its share rising from 22.9% in 2016-17 to 27.7% in 2023-24 Let's assume that $120 billion has been remitted to India, with 27% of it coming from the US. That means around $33 billion is remitted from the US alone. Now, if a 5% tax is imposed on this amount, it would total approximately $1.6 billion (Rs.13,000 crore). This is money that would otherwise have reached India but will now be lost due to the new taxation policy. These aren't just numbers - they reflect the daily reality of Indian households that rely on remittances for survival, education, and healthcare. Trump's proposal would cut this vital income, threatening household security in India and deepening global inequality. Remittances are not charity; they are hard-earned income sent by migrant workers to their families. In 2023, low- and middle-income countries received over $650 billion in remittances, surpassing official development aid and foreign direct investment. For India, it's not just foreign exchange - it's social security for millions. Despite their importance, remittances continue to be undermined by high transaction fees, averaging 6.18% globally in 2023 and exceeding 8% in some corridors. The United Nations, recognising the unjust burden these fees place on the world's poorest, made the reduction of remittance costs a global priority through SDG Target 10.c (to reduce the cost of remittances to less than 3% and eliminate corridors where costs exceed 5% by 2030). Trump's proposed tax is a direct assault on this global commitment. It does not just add another layer of cost; it legitimises financial injustice. Migrant workers send a significant portion of their limited income home, often at great personal sacrifice. Imposing a 5% tax on top of existing fees is punitive and exploitative. It violates the spirit of SDG 1 (no poverty) by reducing the disposable income of families dependent on remittances for food, housing, education, and healthcare. It also runs counter to SDG 8 (decent work and economic growth), which aims to promote financial inclusion through affordable and formal remittance channels. Excessive costs discourage the use of banks and digital wallets, pushing workers into informal, unregulated networks that are prone to fraud and exploitation. In contrast, reducing or eliminating fees can help migrant families save, invest, and build economic resilience through safe and transparent systems. From a gender justice perspective, the impact is troubling. Many remittance recipients are women who rely on these funds to run households and care for children. Taxing remittances undermines their economic agency and weakens progress toward SDG 5 (gender equality). Women's empowerment depends on financial access - something this tax would erode. Women's empowerment depends on access to financial resources - resources that Trump's tax would effectively siphon off. India's low-cost, real-time systems like UPI have democratised financial access. This move undermines that achievement. These innovations are crucial to achieving SDG 9 (industry, innovation and infrastructure) which aims to build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation. By adding an arbitrary federal tax on digital remittances, Trump's bill discourages the very innovations needed to build a more inclusive and interconnected global economy. At a time when multilateral cooperation is essential to fight poverty, inequality, and climate change, such unilateral and inward-looking policies disrupt global solidarity. The road to zero remittance fees faces resistance from profit-driven financial institutions. Legislative sabotage from a major remittance corridor now adds betrayal - not just of migrant workers, but of global development. India must speak out to protect its diaspora, support domestic families, and uphold the moral core of the SDGs. The 2030 deadline for achieving the SDGs is not just about aid or policy, it is about justice. Any attempt to tax remittances is an attempt to rob the poor. It must be resisted with equal political will, both in India and across the Global South. Trump's remittance tax is more than a bad policy; it is a direct threat to the rights of its migrants, and the global vision for a more equal and sustainable world....