New Delhi: India has recorded a decline of 34.6% in the number of registered workers emigrating to Gulf countries between 2014 and 2016, which has led to dip in overall remittances or private transfers made by Indians working abroad, says a report in Zee News.
The official figures for emigration to six gulf countries—United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain—dropped from 775,845 in 2014 and fell to 507,296 in 2016, said the ministry of external affairs (MEA), while responding to a question in Rajya Sabha, added the report.
The report cited the MEA confirming a decline in private transfers. “As per information provided by the Reserve Bank of India, the overall remittances/private transfers made by Indians working abroad, all over the world, including Gulf countries, as recorded in India’s balance of payments statistics has fallen slightly from US$ 69,819 million in 2014-15 to US$ 65,592 million in 2015-16," the ministry was quoted as saying.
There has been a decline in the number of Indian workers emigrating to the Gulf countries for employment due to economic slowdown in the Gulf Cooperation Council (GCC), triggered by weak oil prices that has resulted in lack of demand for workers, added the report.
Saudi Arabia has noticed almost 50% dip, as it has shown a sharp decline from 329,882 workers in 2014 to 165,356 in 2016, said a report in The Times Of India.
The reason for the decrease in migration is attributed to a slowing Saudi economy due to low oil prices and Islamic State disruptions, largely in Iraq and Syria, added the report.