April 14, 2016 7:09 AM

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India world's largest remittance recipient in 2015: World Bank

India remained the world's largest remittance recipient in 2015 despite experiencing a one billion US dollar drop from the previous year. In its annual report Migration and Development Brief, World Bank said, India retained its top spot in 2015, attracting about 69 billion US dollars in remittances, down from 70 billion in 2014. Other large remittance recipients in 2015 were China, with 64 billion dollar, the Philippines (28 billion), Mexico (25 billion) and Nigeria (21 billion dollar). Global remittances, which include those to high-income countries, contracted by 1.7 per cent to 581 billion US dollar in 2015, from 592 billion in 2014.

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