GCC Countries Constitute 45 percent share of total India’s International Remittance
India has the historical bilateral relationship with the GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE) from the centuries with mutual respect and benefit. Relations are more strengthened after the oil exploration boom which opens the doors to Indian semi skilled and unskilled workers to migrate in the GCC countries to meet out their manpower need in new projects. Nature of Indian workers is improved to professional and white collar workers during the three decades of last century but still percentage ratio of semi skilled and unskilled workers are account to 70% while professional like doctors, engineers, architecture and other while collar employees in private as well as in government departments constitutes around 30% percent share of total migrant. Saudi Arabia and United Arab Emirates are always favorite country for Indian migrant accommodate the largest community in the region. Despite higher economic growth and improved living standard in India, workers are still looking to gulf markets as better employer destinations for their career and earnings. Over the years emigration to gulf countries has raised manifold. In the year 1991, total migrant was merely 1483 thousand which reached to 5479 thousand in 2010. Leading host country is Saudi Arabia and United Arab Emirates followed by Qatar, Oman and Kuwait.
India is top immigrant country to GCC region constitutes around 32% share of whole migrant in the region, followed by Pakistan 13%, Egypt 11%, Yemen 6%, Philippines, Bangladesh, Sri Lanka, Sudan, Iran and Indonesia. In terms of remittance also, India is leading country in GCC region to out flown the largest remittance to its domestic country. Recently released estimate by World Bank accounted India to receive$ 55 billion worth of remittance from abroad during the year 2010 and becomes the top recipient country of international remittance in the world. Approximately 45 percent share of total Indian foreign remittance worth $ 24 billion inflows from GCC countries. Largest share contribute from UAE followed by Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.
Per Indian migrant average earning in GCC countries is 4887$ slightly above to the average of all countries 4841$ in the world. Among GCC countries, it is also varied country to country like UAE migrant average income is 7264$ while for Oman it is 2279$ only.
Indian government is always concerned about the better facilities to transfer the overseas remittance in India and have been taken initiative which inter alia include market based exchange rate, current account convertibility, regulatory measures to facilitate the institutional development for wider access to remittance services, policy initiatives for speedier and cost effective money transfer arrangements. To avoid any exploitation and to ensure the welfare of Indian worker in gulf, government of India has signed Labour Welfare Agreement with Qatar, Memoranda of Understanding (MoU) on Labour welfare with United Arab of Emirates (UAE) in December, 2006, with Kuwait in April, 2007, with Oman in November 2008, and with Bahrain in June, 2009.
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