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With $69 bn, India tops remittances chart for 2017


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auryas
Real estate ate most of it alreadyy
by auryas on Apr 23, 2018 04:57 PM

Most of the foreign remittances are already eaten by hyper inflated real estate in India.

Most of this priceless foreign remittances are blocked in over prices blocks of concrete .

Had the government had a clear policy to channel the remittances, it would have helped the infrastructure to a great deal.

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auryas
Real estate ate most of it alreadyy
by auryas on Apr 23, 2018 04:56 PM


Most of the foreign remittances are already eaten by hyper inflated real estate in India.

Most of this priceless foreign remittances are blocked in over prices blocks of concrete .

Had the government had a clear policy to channel the remittances, it would have helped the infrastructure to a great deal.

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BHASKAR NAIDU
high remitence
by BHASKAR NAIDU on Apr 23, 2018 03:55 PM  | Hide replies

if so why we are paying such a high exchange rate to dollar ?

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piri
Re: high remitence
by piri on Apr 23, 2018 05:44 PM
Remittances form just a small fraction of foreign exchange earnings. The bulk of foreign exchange comes from exports.

And India imports much more than it exports (mainly crude oil). This results in a deficit which keeps driving up the cost of foreign exchange. This is good for exporters while not so for importers.

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Raghavendra Ravi
Re: high remitence
by Raghavendra Ravi on Apr 25, 2018 07:32 AM
Some possible answers :

1) We are importing high priced crude ( more than 80% of our consumption) in dollars.
2) We consume too much of petroleum based fuels - too many cars .. many school children are taken to the school by car / imagine one small child in a large INNOVA !!
3) Indians travel abroad much more nowadays as tourists.
4) We have lost our edge in textile exports to Bangladesh and Sri Lanka and textile exports are not growing.
5) Apart from IT and some Generic Pharma exports - rest of our exports are still raw materials low value added goods.
6) We shun manufacturing / no one is interested in manufacturing and hence our "man power" based exports is not rising.
In short, we are importing too much and exporting too little.


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