In 2024, Indians living overseas set a new record by transferring a staggering $129.4 billion back home. The steady rise in remittances from Indians abroad has persisted even in the face of inflation in their host countries. This surge can be attributed to the improving job markets in OECD nations following the disruptions caused by the pandemic. India has maintained its position as a frontrunner in global remittances, with expectations to further increase the inflow to an estimated $160 billion by 2029. This trend underscores the crucial role that the Indian diaspora plays in supporting the country’s economy through their financial contributions.