Dubai, June 15 (PTI) India is the largest recipient country in terms of both global and GCC remittances, accounting for roughly 50 per cent of money transferred from the Gulf, an exchange company official has said.
According to Sudhir Kumar Shetty, the Chief Operating Officer of the UAE Exchange Centre, the sum remitted during 2010 was estimated to be between USD 25-30 billion.
Sudhir Kumar Shetty, the Chief Operating Officer of the UAE Exchange Centre, said money remitted by foreign workers in the UAE rose to USD 10.54 billion in 2010 from USD 9.51 billion in 2009, a clear
indication that after a protracted downturn and a slump in job market during 2008 and 2009, the country's economy had returned to a recovery mode.