India set to receive $137bn to $140bn in FY26 remittances
Business
India is on track to receive up to $137 billion to $140 billion in remittances in FY26, a new record, thanks largely to increased money sent home from Indians working abroad, especially as tensions rise in West Asia.
By December 2025, remittance inflows had already topped around $110 billion, beating last year's numbers by a good margin.
SBI expects India's remittances near $135bn-$137bn
SBI expects these high numbers to level off in FY27 (the next fiscal year, April 2026-March 2027), staying around $135 billion to $137 billion.
Meanwhile, the RBI has kept interest rates steady at 5.25%, playing it safe amid global uncertainties like rising energy prices.
On a positive note, a strong rabi crop should help keep food supplies stable even as exports face some bumps.