The World Bank has said, India will receive record 70 billion US dollar remittances in 2012, topping the list of developing countries which are expected to receive a total of 406 billion US dollar this year.After India, China will stand second with 66 billion US dollar, followed by Mexico and the Philippines with 24 billion US dollar each. In all worldwide remittances – including those to high income countries – will reach 534 billion US dollar in 2012, according to a newly updated World Bank brief on global migration and remittances.