Page 77 - AAE PR REPORT - January 2025

2/4/25, 8:21 AM Tech, promotions fuel surge in UAE-India remittances
“Looking ahead to 2025, we anticipate continued growth, driven by our focus on digital

innovations, customer-focused offerings, and the ever-strong ties between the two countries.”

Similar findings are echoed at Al Ansari Exchange.
Ali Al Najjar, Chief Operating Officer, Al Ansari Exchange, says, “The UAE-India remittance

corridor has grown significantly in the previous years. The UAE, being India’s top source country,

accounted for 18 per cent of overall inflows, totalling $21.6 billion in 2023, and remains a major

contributor to global remittance growth. This growth has been driven by a combination of factors,

including our promotions, technological advances and the large Indian expatriate community in the
UAE.”

Indeed, for any business sector to witness growth, it normally takes a fusion of favourable

influences and the remittance sector is no different.

“The UAE-India remittance sector is thriving owing to a confluence of factors. Primarily, the UAE’s

robust economy, with its high GDP per capita and demand for workforce, particularly in sectors like
construction and hospitality. This large diaspora forms the backbone of remittance flows,” says Al

Najjar.

“In addition to that, technological advancements have revolutionised the sector. The rise of digital

solutions has made sending money home faster, more convenient, and often more cost-effective,

with the supportive government policies playing a crucial role.
“The UAE-India Comprehensive Economic Partnership Agreement (CEPA) enhances financial ties,

while regulatory frameworks in both countries ensure secure and efficient cross-border transfers.

Financial inclusion initiatives in India are making banking services more accessible, particularly in

rural areas.”

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