If you're looking to send money to India, you're among the thousands of non-resident Indians (NRIs) who regularly engage in this process. In fact, India holds the distinction of being the largest recipient country for remittances worldwide. In the fiscal year 2012-2013 alone, India received an impressive remittance amount of $67.6 billion, surpassing the foreign direct investment (FDI) inflow of $46.84 billion during the same period. Since the economic reforms of 1991, India has consistently witnessed substantial growth in remittances, and this trend continues today. Two decades ago, the value of Indian remittances stood at a modest $2.1 billion, but it has experienced exponential growth, now surpassing a staggering $70 billion. As of 2015, the Ministry of Overseas Indian Affairs (MOIA) reported that over 25 million people sent a total of $72.2 billion as remittances to India from the United States alone.
With such substantial amounts of money flowing into India, lending banks and remittance service providers have recognized the immense potential and transformed remittance into a thriving business. Each bank and money transfer company offers its own set of transfer fees and exchange rates, with some proving to be more competitive than others. Consequently, many NRIs find themselves questioning whether they are utilizing the right service provider for sending money to India.
To address these concerns and provide transparency in the remittance market, CompareRemit has emerged as a valuable resource. This platform consolidates information on various service providers, displaying their rates on a single platform. By presenting fluctuating exchange rates in an easily comparable format, CompareRemit empowers you to make informed decisions about the company you wish to trust with your funds. Recognizing that sending hard-earned money is a significant responsibility, CompareRemit simplifies the task by presenting daily rates, enabling you to conveniently compare and select the most cost-effective provider for your India money transfer.
If you are wondering how to send money from the US to India, CompareRemit can be an invaluable tool in guiding you through the process. Whether you are an NRI or an individual looking to transfer funds to India, CompareRemit offers a comprehensive platform where you can compare different providers, evaluate their exchange rates and transfer fees, and ultimately make an informed choice based on your specific requirements. By ensuring transparency and facilitating comparisons, CompareRemit helps you optimize your remittance experience, making it a trusted and reliable ally in your quest to send money to India from the USA.
Helps remittance users to find the best way to send money abroad to their loved ones, friends and family
Makes it easier & more profitable for businesses to make international payments & global transfer
Creates a marketplace for money transfer providers to reach out to a highly valuable remittance audience
Every morning, the first thing I do is refresh the CompareRemit page on my phone browser. It used to be a search for "dollar rate in India today" on Google. After CompareRemit, I have registered to half a dozen online services and choose the best one on pay day to remit money to India.
CompareRemit has helped me save lots of money by being able to compare the rate of exchange on multiple websites as well as the transfer fee. With so many fish in the pond, it's difficult to choose the best one, but CompareRemit makes it so easy. Thanks to the team for this amazing service!
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