Pakistan 4th largest source of remittances to India

[Perpendicular]

So finally it is true, the number of Indian agents in Pakistan is indeed high.

I guess RAW agents have penetrated Pakistan deep They must be sending the remittance back to India.

Just typed the above sentence and suddenly saw your post, but still I post it.

 

[911]

Reporters name is 'BS Reporter'

 

[Archie]

I guess the reporters have taken the size of Hawala transaction between Pakistan and India and used it as remittances
Also a large portion of this 4.9 Billion could be black money being transferred by Noora and Co
I am not sure many of you know
But Nawaz is rumored to have investments in Many Sugar Mills and Steel Companies in India

 

[911]

I wonder why is this not making headlines.

 

[ArsalanKhan21]

I wonder why is this not making headlines.

If it was other way round and Pakistanis in India were sending money back to Pakistan then we would have Bhakts screaming and threatening. RSS,BJP, SS, and other creating havoc. While nobody in Pakistan even said anything.

 

[Indus Pakistan]

I am genuinly shocked. This needs to be shut down fast. While millions of Pakistani's are busting abroad and sending money back home who the hell is then sending it to India? This is crazy.

And we get all these Indian's croaking on about "Shining India". Just bloody amazing ......

Ps. Can you imagine if it was the other way around?

 

[911]

If it was other way round and Pakistanis in India were sending money back to Pakistan then we would have Bhakts screaming and threatening. RSS,BJP, SS, and other creating havoc. While nobody in Pakistan even said anything.

Pakistanis even cry when Nawaz brings businessmen with him on visit to India and 1.4m Indians working in Pakistan? Thats a news.

 

[SQ8]

Man where are the racists in this thread? The "sons of the soil".. we havent heard those that are already posting here open up. Has everyone gone quiet over the holiday season just like Trump?

 

[ArsalanKhan21]

This needs to be shut down fast.

You can't shut down the transfers. It will then be sent to a third country and then to India. We have to find who are these 1.4 million people and why are they sending money to India.

 

[Sky lord]

Honestly, I don't believe this news.

I can understand if it was to Afghanistan, which is not even mentioned. maybe they made a mistake when they meant Afghanistan.

 

[It.is.all.mudi's.fault]

Lol how is that even possible. How indians are even allowed to work in Pakistan? I seriously doubt the figures as 4.9$ is a massive amount.

What?

Now this is news to me...b/w how is even possible..last i know there is not much trade b/w us and with the amount of hatred numbers look alien to me...can someone knowledgeable please help??

May be they are sending money to their impoverished distant relatives. Nonetheless huge money flow which used third countries like Britain and Dubai before Pakistan-India improved relations.

There is not much direct bilateral trade between India and Pakistan, but Indo-Pak trade via Dubai is quite substantial.

These so called remittances are shadow payment for Via Dubai trade. It means that balance of Indo-Pak trade is in favor of India by nearly $4 billion.

 

[deckingraj]

I wrote that and it is true !

alright then...

There is not much direct bilateral trade between India and Pakistan, but Indo-Pak trade via Dubai is quite substantial.

These so called remittances are shadow payment for Via Dubai trade. It means that balance of Indo-Pak trade is in favor of India by nearly $4 billion.

ahhh that make sense...however if the remittance is coming via Dubai then how come Pakistan is appearing there??

 

[chhota bheem]

Overseas Pakistanis remit $13.3bn in nine months - Pakistan - DAWN.COM

$13.3 billion remit from all over the world and Pakistan will remit 4.9 to one single country that to India,i doubt it unless Pakistani bussiness are moving to India

 

[Sky lord]

There is not much direct bilateral trade between India and Pakistan, but Indo-Pak trade via Dubai is quite substantial.

These so called remittances are shadow payment for Via Dubai trade. It means that balance of Indo-Pak trade is in favor of India by nearly $4 billion.

That makes sense, so they must be calling this funny trade between India and Pakistan via Dubai as "remittances".

 

[ArsalanKhan21]

In 2014, Bangladesh was 5th largest source for remittance for India

BD 5th remittance source of India - The New Nation
BD 5th remittance source of India

Published at: 28th-Feb-2014http://thedailynewnation.com/news/4633/bd-5th-remittance-source-of-india.html#commentsdv

DESPITE India's so-called regional superpower status and Bangladesh's tiny economic outlook, one may believe it or not but Bangladesh is now the fifth largest remittance earning source for India. A Bangalore based magazine has disclosed that expatriate Indians working in Bangladesh have successfully drained away US$ 3,716 million alone last year as half a million Indians are now working in Bangladesh; mostly in the readymade garment industry and in NGOs'. While most Indian media and politicians are continuously making the point that India is inundated by illegal migrants from Bangladesh, the report in Silicon India showed that the reverse is actually true . It tells us that it is not only the richer countries but Bangladesh also which is providing employment to the bulk of Indians and they are sending a overwhelming flow of remittance to their homes. The report mentioned about scores of illegal immigrants from the Indian states of West Bengal, Meghalaya, Assam, Tripura and Mizoram who have entered Bangladesh and joined the job market. The Indian central government's documents also confirmed the fact as per the news report. As we see, the World Bank figure showed that India earned the highest value of remittances in the world. It earns US$ 71 billion annually followed by China which earns $60 billion. It is indeed surprising that Bangladesh rests in the list of India's top remittance sources along with the world's top developed nations. According to descending order of earning, Bangladesh stands fifth among India's top remittance providers only next to UAE, USA, KSA and UK. Last year Bangladesh provided 5 percent of the total remittance earnings of India which had a eight times larger population and a 23 times larger landmass. Estimations suggest that the rising flow of remittance will only exponentially increase in the near future. We know in an age of free trade and mobility of capital it is very natural that the two countries with a long shared border and economic potentials will reciprocally share their resources to develop the region. But, it does not take an economist to know that India only believes in one-way traffic and it wants to be at the receiving end. Apart from regular killings, rapes, intimidation and torture of unarmed people on the high rise barbed border, Bangladeshis' are clearly not getting similar treatment from India when it comes about job opportunities or duty free export access into the Indian market. India's exports to Bangladesh are now around $10 billion including remittances while our exports to India now stands at around $600 million. This is definitely not the win-win situation and can only be compared with a colonial trading system. The breaking of the news by the Indian magazine has come as an eye opener to the nation and we suggest that the government take a review of the situation to apprise the nation of the reality in the ground. We don't know about the employers and the internal police verification system. We don't know how Bangladesh Bank is monitoring transfer of money by Indian expatriates. Some politicians may compromise, but the nation must take hold of its affairs.