With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
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WASHINGTON, October 2, 2013 – Remittances to the developing world are expected to grow by 6.3 percent this year to $414 billion and are projected to cross the half-trillion mark by 2016, according to revised... Show More + estimates and forecasts issued today by the World Bank.India and China alone will represent nearly a third of total remittances to the developing world this year. Remittance volumes to developing countries, as a whole, are projected to continue growing strongly over the medium term, averaging an annual growth rate of 9 percent to reach $540 billion in 2016.Global remittances, including those to high-income countries, are estimated to touch $550 billion this year, and reach a record $707 billion by 2016, says the Bank’s Migration and Development Brief. The estimates reflect recent changes to The World Bank Group’s country classifications, with several large remittance recipient countries, such as Russia, Latvia, Lithuania and Uruguay no longer considered developing countries. In Show Less -
GENEVA, September 11, 2013 – The World Bank Group and the Swiss Agency for Development and Cooperation (SDC) today signaled progress in their collaboration on the Global Knowledge Partnership on Migration... Show More + and Development (KNOMAD), a new initiative on migration and development issues. KNOMAD is envisioned as a global hub of knowledge and policy expertise on migration.The two institutions have been collaborating to establish KNOMAD, which was initiated by The World Bank Group in 2011. SDC is the top donor to the KNOMAD, with a contribution of 5 million Swiss francs (about $5.3 million). KNOMAD, which is also supported by Germany’s Federal Ministry of Economic Cooperation and Development (BMZ), is now operational. It collaborates with well known academic centers and multilateral institutions, including the United Nations, Global Migration Group (GMG), and the Global Forum on Migration and Development (GFMD).The program was initiated in response to perceived knowledge gaps and need f Show Less -
WASHINGTON, April 19, 2013 – The World Bank today announced the establishment of the Global Knowledge Partnership on Migration and Development (KNOMAD), envisioned to become a global hub of knowledge and... Show More + policy expertise on migration issues.KNOMAD was initiated in response to the rapid growth in migration and remittances over the last decade. Nearly one billion people – that is, one out of every seven persons on the planet – have migrated internally and across international borders in search of better opportunities and living conditions, with profound implications for development.Remittance flows to developing countries have more than quadrupled since 2000. Global remittances, including those to high-income countries, are estimated to have reached $529 billion in 2012, compared to $132 billion in 2000. "Migration and remittances offer a vital lifeline for millions of people and can play a major role in an economy's take-off. They enable people to partake in the global labor Show Less -