Total remittances into India from overseas Indians have grown steadily over the past 15 years, and dramatically in the past 10, skyrocketing from $2.1 billion in financial year 1990-91 to $24.1 billion in financial year 2005-06.
Factors responsible for the growth in reported remittances include the diminishing role of unofficial channels, shifting emigration patterns to high-skilled technology jobs, greater competition in the money transfer market, and the strenght of the Indian economy.
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