Author: Bhupesh Gopal Chintamani
Publisher: GRFDT
India hasbeen occupyinga prominent position in the global remittance atlas especially after the emergence of oil-backed economies in west Asia. It is getting benefited as its diaspora is spread across the world. Remittancehas become an important external source of many developing countries. Many developing countries take measures to increase remittance flows as it’s the second largest source after Foreign Direct Investment (FDI). Thus, it’s raising income, more stable source of income during theboom and become less volatile by nature. This paper deals with conceptual and empirical outline which will examine the importance of remittance and their benefits in India. The conceptual importance will be done by evaluating research paper and for empirical outline deals with RBI data. Literature confirms that there is a positive connection between remittance and economic development in India; however, it is not necessary that economic growth isattributable to remittances; development will consequently lead to an increase inflows and productive investment.