New Delhi, Oct. 4 -- When it comes to inward remittance, India tops the global list. According to a World Bank report, Migration and Development Brief, released in April this year, the top remittance recipients include India with $79 billion, followed by China ($67 billion) and Mexico ($36 billion).
Typically, half of the remittances received by Indian residents are used for maintenance of families, followed by deposits in banks, but a major chunk is also invested in real estate, according to information on Reserve Bank of India (RBI) website. "NRI investments in Indian real estate has doubled from $5 billion in 2014 to $10.2 billion in 2018," according to a report released in 2018 by 360 Realtors, a consultant firm, on the state of NRI in...