For about a decade, India has been the largest remittance recipient in the world, according to annual remittance data by The World Bank. In 2015, India received $69 billion in inward remittance, followed by China at $64 billion. For the year 2016, India is estimated to get about $65 billion from remittances.
With new fintech companies looking at cross-border remittance, technology is likely to change the way money is sent across the globe. And since India is the largest recipient of remittance, any development in cross-border remittance is likely to have an impact here too.
