As per September 2024, according to the Ministry of External Affairs in India, there are ______ million Indians residing abroad who are either NRIs or OCIs.
- AOption (a)
32
- BOption (b)
44
- COption (c)
52
- DOption (d)
61
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Correct answer
32
Why this answer is correct
The correct answer is 32 million.
Key Points
- As per the data released by the Ministry of External Affairs (MEA), India, in September 2024, the estimated number of Indians residing abroad, including Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), is approximately 32 million.
- This includes Indians living in countries across continents such as the United States, the Gulf Cooperation Council (GCC) countries, Canada, the United Kingdom, Australia, and other nations.
- The figure represents a mix of Indians who have either migrated for work, education, or permanent settlement and those who maintain Indian citizenship but reside abroad temporarily.
- The MEA consistently updates this figure through consultations with embassies, consulates, and official surveys conducted worldwide.
- These individuals contribute significantly to India’s economy through remittances, which stood at a record high of $111 billion in 2023, making India the world’s largest recipient of remittances.
Additional Information
- Non-Resident Indians (NRIs):
- An NRI is an Indian citizen who resides outside India for employment, education, or other purposes for an indefinite period.
- NRIs retain their Indian citizenship but are typically subject to specific tax regulations under the Income Tax Act, 1961.
- They contribute significantly to the Indian economy through foreign direct investments (FDIs) and remittances.
- Overseas Citizens of India (OCIs):
- OCIs are individuals of Indian origin who hold citizenship in another country but are granted certain privileges in India, such as visa-free travel and the ability to own property.
- The OCI card was introduced under the Citizenship (Amendment) Act, 2005, to strengthen ties between India and its diaspora.
- OCIs are not allowed to vote or hold constitutional office in India.
- Indian Diaspora:
- The Indian diaspora is the largest in the world, with members spread across more than 200 countries.
- Key regions of settlement include the Middle East (especially GCC countries), North America, Europe, and Southeast Asia.
- They are known for their contributions to local economies and their role in enhancing India’s soft power globally.
- Remittances to India:
- India received a record $111 billion in remittances in 2023, accounting for approximately 3% of its GDP.
- The major sources of remittances include the United States, UAE, Saudi Arabia, and the UK.
- This financial inflow helps India maintain a stable current account balance and supports rural households significantly.
- MEA Initiatives for Indians Abroad:
- The Pravasi Bharatiya Divas, celebrated annually, recognizes the contributions of the Indian diaspora to India’s development.
- The e-Migrate system ensures the safety and welfare of Indian workers migrating to other countries for employment.
- The Vande Bharat Mission was launched to repatriate Indians stranded abroad during the COVID-19 pandemic.