The momentum has been carried over into the current fiscal year as well. Net transfers rose from $9.4 billion in April 2025 to $16 billion in April 2026, a jump of roughly 70% for the month, according to the government’s response.
Remittances have more than doubled since 2013-14 and have grown particularly sharply over the past four years – rising from $81.2 billion in 2021-22 to $144.8 billion in 2025-26, a period that coincides with escalating conflict in the West Asian region.
As to why inflows have proved resilient even as the region has seen sustained conflict, the ministry pointed to the World Bank’s January 2015 Global Economic Prospects report, which found that remittance flows tend to be more stable than capital flows and are largely shaped by labor market conditions in host economies rather than short-term political or security shocks.
This distinguishes remittances from more volatile capital flows such as Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI) and debt inflows, which are typically much more sensitive to geopolitical risk and investor sentiment.
The query had also sought a comparative, conflict-by-conflict breakdown of remittance flows since 2014. The government said it does not keep remittance data segmented by individual conflict or war, instead providing annual aggregate figures from RBI’s BP statistics.
