Industry Odisha Bureau, Jul 1: The data reportedly presented by the Ministry of Finance in its latest report has reportedly stated that net remittances from the West Asia region to India rose to $16 billion i.e. 70% up in April 2026 despite the escalated tug of war between US/Isreal and Iran there.
As per media reports, the monthly economic review done by the Department of Economic Affairs under the the Ministry of Finance, Government of India stated that, “Contrary to concerns that geopolitical tensions in the West Asia region could adversely affect remittance inflows from the Gulf economies, transfer receipts have remained robust. This resilience is consistent with empirical findings that remittances are among the most stable components of external financing, remaining relatively insulated from episodes of financial market volatility and geopolitical uncertainty.”
Media reports quoting the Finance Ministry’s report further said that: “The principal risk to remittance inflows, however, arises from a sustained deterioration in labour market conditions in host economies that affects migrant employment and earnings. Consequently, while short-term external shocks may have limited effects on remittance inflows, developments in overseas labour markets warrant close monitoring in the current context.”
The same monthly economic review done by the Department of Economic Affairs under the the Ministry of Finance, Government of India also reportedly stated that, “This resilience of remittance inflows is consistent with what happened during previous crises such as the COVID-19 pandemic.”
