Last updated on October 3rd, 2024 at 12:47 pm
Did you know that you can send up to $30,000 USD in one transfer to India with Remitly?
Our 24-hour send limit of $30,000 applies to transfers sent to India from many regions, including the USA and Europe. From Canada to India, the 24-hour send limit is currently $25,000 USD.
Transfer money to India today to experience Remitly’s peace of mind. We help you track your transfer every step of the way.
How to send
It’s quick and easy to send money to India, and you can get started in just a few minutes. If you haven’t yet, be sure to download the app, set up your Remitly account, and select India as your destination.
- Enter the amount you’d like to send and choose your payment method. You can pay via bank account, credit card, or debit card.
- Select your delivery option—bank deposit, UPI, or cash pickup—and provide the necessary details.
- Fill in the recipient’s name and contact information, including their phone number.
- Add your payment information.
- Review all transfer details and hit Send.
An overview of India’s international remittance market
India is currently the highest remittance recipient country in the world, representing as much as 12-15 percent of the world’s total remittances.
“This is a credit to India’s overseas communities around the world. They made the courageous decision to move to another country to live and work, sending their earnings back to loved ones in India. We’re committed to this community and honored to make the experience of sending money across borders easier for the hard-working individuals that contribute so much.” – Matt Oppenheimer, Remitly CEO
According to the Global Migration Data Portal, India has consistently held the position as the world’s top recipient of remittances, a trend that has continued since 2008. In 2023, remittance inflows to India reached a remarkable $120 billion, significantly outpacing other countries.
This steady stream of funds plays a crucial role in supporting the livelihoods of millions of families across the country, contributing to household income, healthcare, education, and investment in small businesses. The Indian diaspora, spread across countries such as the United States, the Gulf states, and the United Kingdom, continues to fuel these remittance inflows, driven by strong economic ties and personal connections.
States like Kerala, Tamil Nadu, and Uttar Pradesh see substantial contributions from their overseas workers. As the Indian government continues to focus on digital financial inclusion and reducing the cost of remittances, these inflows will likely remain an important pillar of the country’s economic development.
Remittance costs
However, managing high remittance costs, particularly in traditional banking channels, remains a challenge for ensuring that more money reaches families back home.
Remitly, with consistently great rates, is helping to change that. We’re honored to serve our customers whose remittances make a positive impact in the country.
