
Why India must measure its Gulf Remittance Risk
Every month, millions of Indian workers in the Gulf send part of their wages home to their families. Each transfer is a private choice made by one household. Added together, they form one of the most significant financial relationships India has with any region. In 2023-24 India received a record $118.7 billion in inward remittances, and the six Gulf Cooperation Council (GCC) countries sent about 38% of it. Around half of all Indian migrants abroad live in the GCC, and between 2010-11 and 2023-24 remittances paid for roughly 42% of India's merchandise trade deficit in a typical year (Reserve Bank of India, 2025). Even so, policy debate usually treats this money as a statistic to report rather than a dependency to manage.






