Remittances from UAE to India continue to grow

A recent report commissioned by financial services company Friends Provident International (FPI) and published by the Economist Intelligence Unit says remittance and investment flows from the UAE to India are growing, signalling interest among wealthier NRIs to invest back home. The report also says unlike other expatriate nationalities in the UAE, NRIs are one of its most financially prudent expatriate groups. Even low-income earners have a great deal of financial discipline and their culture of saving highlights the value of financial planning. Much of the money remitted is for family support as India's less developed pension system leads NRIs to support their parents and children rather than starting a retirement plan. Over 80 percent of UAE NRIs have two to five dependents to support, many of these are back home in India. India is also an attractive prospect for better-off white-collar Indian investors and remittance and investment flows from the UAE to India clearly confirms a continued and increasing keenness. Indians are the largest foreign born community in the UAE and an increasing number of professionals are relocating to the country. It is also a fact that remitting money from the UAE to India is less expensive than from other locations.