Overseas Indian Affairs Minister Vayalar Ravi, addressing a conference of heads of missions of Gulf region, gave out the figure saying remittances has touched USD 55.9 billion last fiscal.
India had received a total of USD 53.9 billion as remittances in the year 2009-10 while in 2008-09, the amount was USD 46.9 billion.
The World Bank had earlier this year in a report said Indian expatriates are expected to remit about USD 55 billion into the country in 2010-11 and will be the top receiver of remittances.
The top remitting countries in 2009 were United States (USD 48.3 billion), Saudi Arabia (USD 26 billion) and Switzerland (USD 19.6 billion).
Published 25 November 2011, 09:13 IST