The Indian expatriates in Kuwait sent an estimated 2.1 billion dinars (equivalent to around 6.3 billion dollars) in remittances in 2023, representing 4.8% of the overall remittances from Indians living abroad, which totaled 125 billion dollars. According to 'First Post,' New Delhi is advocating for a plan at the World Trade Organization to reduce the expenses of international transfers and enhance the interoperability and connectivity of digital payment systems.
Officials revealed that the objective of the proposal is to help developing nations save between 30 to 40 billion dollars, considering that 78% of last year's total remittances, reaching $860 billion, were channeled to low- and middle-income countries.
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