That indeed is true..
We give out much more aid than we receive
Amid thunderous applause from the leaders and representatives of 15 African countries at the African Union headquarters in Addis Ababa, Singh announced a line of credit worth $5 billion "to help achieve the development goals of Africa". "There is a new economic growth story emerging from Africa. Africa possesses all the prerequisites to become a major growth pole of the world… India will work with Africa to realise its vast potential… It is in this spirit that I wish to outline some initiatives for the consideration of our African partners," Singh said on the eve of Africa Day.
The $5.4 billion aid offered at the first Summit in Delhi in 2008 focused on regional integration through infrastructure development.
Read more at:
India gives $5-billion aid to Africa : Rest of the World, News - India Today
India has set up its own international aid agency similar to USAID and UK's Department for International Development (DFID), with an estimated corpus of a sizable $15-billion to be spent over the next five years. This new agency, called Development Partnership Administration (DPA), will oversee all the development partnership projects that India will undertake in developing countries around the world.
About ten years ago, Indian foreign aid projects were very limited both in terms of resources and geographical spread.
However, today the reach of Indian aid has spread around the world with more than 60 countries benefiting from India sponsored projects.
India sets up global aid agency
In the mid-1980s, India was the world’s largest recipient of foreign aid. Today foreign aid is less than 0.3% of GDP. Seven years ago India announced that it would only accept bilateral development assistance from five countries (Germany, Japan, Russia, the UK, and the United States) in addition to the EU. Now it appears that the list is dwindling. India also declined international assistance after both the 2004 tsunami and the 2005 earthquake in Kashmir.
Although there are no consolidated figures on the total foreign assistance that India provides, the estimates are rising.
India allocated approximately $547 million to aid-related activities in 2008. It is now the fifth largest donor to Afghanistan (with commitments over $1 billion since 2001) and is increasingly seeking out new recipients – India’s aid to Africa has grown at a compound annual growth rate of 22% over the past ten years. India’s aid programs are increasingly including countries outside the immediate neighborhood of Afghanistan, Bhutan, and Nepal.
http://www.cgdev.org/blog/india-emerges-aid-donor
You forgot aid that Pakistan receives from Saudi Arabia, Japan, UK etc etc.