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  #1  
Old August 14, 2015, 08:14 AM
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Default BD 5th remittance source of India

This is kinda old news but worth sharing!

Quote:
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.
Source: http://thedailynewnation.com/news/46...-of-india.html

Quote:
It is reported that Bangladesh stands 5th among the 15 nations sending remittances to India after UAE, USA, Saudi Arabia and UK. In 2013, remittance from Bangladesh to India was about $ 3.716 billion. Is it not amazing? However, that is the official figure. According to other sources, an almost equal amount, if not more, is sent through hundi and other illegal methods.
Source: http://www.thedailystar.net/controll...to-india-58831


Quote:
5. Bangladesh


Bangladesh is a developing country and is the eighth most populous country in the world. It is reported that there are Indians who are staying in Bangladesh and there are about 500,000 Indians presently residing.


People who are migrating to Bangladesh illegally are from West Bengal, Meghalaya, Assam, Tripura and Mizoram. According to the government authorities of the country, most of them come in search of job opportunities and mostly work in NGOs, garments and textile industries.


These Indians remit $3,716 million to their home country and the number is expected to increase in next few years.
Source: http://www.siliconindia.com/news/bus...515-cid-3.html
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  #2  
Old August 14, 2015, 08:34 AM
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Healthcare service has a big role in this. Medicine as well.
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  #3  
Old August 17, 2015, 11:58 AM
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that's not actually a source, but if you want to believe.......

here's another magazine that says BD receives about half its remittances from India.
http://qz.com/221317/remittance-econ...t-is-to-india/


do note this is from quartz.com, which people have at least heard of.

siliconIndia is not a magazine I've heard of before I came across this article few months back and man was I shocked to see it being quoted as a source. a magazine certainly cant disclose anything about this data because it cant be primary source for country data which are known and released by central banks and such !

I dug around a little to find that it was actually channeling data from an yahoo article. this one
https://in.finance.yahoo.com/photos/...068156702.html

which, in turn quoted
"Migration and Development Brief 2012 from the World Bank’s Migration and Remittance Unit"

so I dug up those (there are two)
and lo behold : those say nothing of the kind.
please do read.
http://siteresources.worldbank.org/I...entBrief18.pdf
http://siteresources.worldbank.org/I...entBrief19.pdf

I would be glad to read some actual data on this.

thanks in advance.
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Old August 17, 2015, 04:47 PM
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Neel what's your point?

form your esteemed quartz article:

Quote:
It is not entirely a one-way traffic, though. Indians working in Bangladesh sent $3.7 million home in 2012. This makes the eastern neighbour the fifth highest contributor of remittance inflows.
The number should be 3716 million or 3.7 BILLION. How can 3.7 million remittance equate to 5th highest contributor? One person alone can send that..LOL. It's like the writer is having difficulty writing the number down with B.

The reality is India is nothing without Bangladesh.
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  #5  
Old August 18, 2015, 03:06 AM
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Quote:
Originally Posted by iDumb
Neel what's your point?

form your esteemed quartz article:



The number should be 3716 million or 3.7 BILLION. How can 3.7 million remittance equate to 5th highest contributor? One person alone can send that..LOL. It's like the writer is having difficulty writing the number down with B.

The reality is India is nothing without Bangladesh.
Why don't we look at actual World Bank stats rather than these hearsay/dubious news reports?

Check out the 'Bilateral Remittance Matrix 2014' here: http://econ.worldbank.org/WBSITE/EXT...476883,00.html

According to that Matrix, 4,163 million USD was remitted from India to Bangladesh in 2014 and 114 million USD was remitted from Bangladesh to India, i.e. Bangladeshi migrants in India are remitting much more
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  #6  
Old August 19, 2015, 04:30 AM
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thanks a lot Navo !!

clearly my googling abilities are rather limited 'cuz I couldn't find that data.

BD is the 27th largest source of remittance to India.

@iDumb, the point was simply that the purported datum of those articles was unbelievable. considering the profile of Indian expats, it was hard to fathom how BD could top the ME countries, western europe, aus or US.

here are some countries that are larger sources of remittance to India than BD.
Nepal
Sri Lanka
Bhutan
Tanzania
Myanmar


the surprise, for me was that pak was India's 6th largest source and India was pak's 3rd largest !
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Old August 25, 2015, 01:25 PM
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Here is another source: Times of India

http://economictimes.indiatimes.com/...w/45332935.cms
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  #8  
Old August 25, 2015, 07:31 PM
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Quote:
Originally Posted by Navo
Why don't we look at actual World Bank stats rather than these hearsay/dubious news reports?

Check out the 'Bilateral Remittance Matrix 2014' here: http://econ.worldbank.org/WBSITE/EXT...476883,00.html

According to that Matrix, 4,163 million USD was remitted from India to Bangladesh in 2014 and 114 million USD was remitted from Bangladesh to India, i.e. Bangladeshi migrants in India are remitting much more
2013 and 2014 matrices appear to be incorrect. According to the tables, remittance amount from Bangladesh to India was $3,709 million in 2011 and $4,082 million in 2012. In 2013 and 2014 they became $111 million and $114 million respectively. That's a decrease of more than 97% from 2012 to 2013, which is highly improbable. I think 2013 and 2014 tables haven't been updated that's why news sources refer to the 2012 table . My guess is by 2015 the figure should be north of $4.5 billion and closer to $5 billion.
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Old August 25, 2015, 07:36 PM
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Quote:
Originally Posted by Neel Here
@iDumb, the point was simply that the purported datum of those articles was unbelievable. considering the profile of Indian expats, it was hard to fathom how BD could top the ME countries, western europe, aus or US.
If you visit offices and factories in BD you won't be surprised. Number of Indians working in BD has risen drastically in the last 5/6 yrs.
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  #10  
Old August 25, 2015, 09:35 PM
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Quote:
Originally Posted by zman
If you visit offices and factories in BD you won't be surprised. Number of Indians working in BD has risen drastically in the last 5/6 yrs.
More than half of the nurses of the big hospitals (Apollo, etc) are Indian.
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