India's remittances near $73 billion in the first half of 2026
Money sent home by Indians abroad held up in early 2026, keeping India the world's largest recipient — even after a new US tax on cash transfers.
Money sent home by Indians abroad reached about $73 billion in the first six months of 2026, keeping India the world's largest recipient of remittances, according to figures tied to the World Migration Report 2026. The flow has held up despite the new 1% US excise tax on cash transfers that took effect on 1 January — the subject of our cover story — largely because the tax exempts the bank and app transfers most senders use. India received a record $129.1 billion in remittances across the whole of 2024, the highest total of any country.
