Time For India's electronic payment system UPI in Qatar

Good news! Impressive!

"The Indian diaspora in Qatar is the largest foreign community in the country, numbering approximately 830,491 people according to official figures from the Ministry of External Affairs India." (Google Search)

"Qatar's total population is approximately 3.18 million people" (Google Search)

(229) US Ally Teases Trump with India Deal? 'Time For UPI...': Qatar Bets Amid Iran War | Firstpost Live - YouTube

Western Union Reports Fewer U.S. Dollars Being Sent Home by Migrants

Bad news! Probably most remittances are by legal immigrants.

Countries like Mexico and other Latin American countries depend on the huge remittances every year! In 2024, remittances to Mexico alone were about $65 billion.

Western Union Reports Fewer U.S. Dollars Being Sent Home by Migrants "In another example of the Trump effect, money transfer giant Western Union is reporting that its revenue from cash transfers to locations outside the U.S. has seen a 12 percent decline this year."

African fintechs transform $95 billion remittance market

Good news! Recommendable!

Trump Effect: Remittances to Mexico in April Drop to Lowest Level in More than a Decade plus Trump wants to tax remittances

Bad news! This is serious stuff! However, just one month of data does not make a statistic nor a trend! However, continued observation is recommended.

Total annual remittances have a very significant effect on economies like Mexico and other Latin American countries. I bet, Mexico's new President Claudia Sheinbaum will not be amused.

Let me speculate that legal as well as illegal immigrants out of fear may have stopped making remittances.

A special tax on remittances seems to be an awfully bad idea! If we assume that the usual income taxes/withholding taxes were paid on the remuneration by these remittances senders then it would constitute some kind of double taxation. Hopefully, President Trump will not be foolish!

Trump Effect: Remittances to Mexico to Drop to Lowest Level in More than a Decade

Pravasi Bharatiya Divas Celebrates Indian Diaspora with Palki Sharma

Recommendable! The Indian diaspora is the largest in the world.

During my professional career, I have actually worked with a number of Indian diaspora colleagues. A few were even my boss. I had a good time and learnt a lot.

Remittances at $129 billion to India Equal Pakistan, Bangladesh Budgets Combined with Palki Sharma

Good news!

Ranking

Bangladesh protest movement launches appeal to foreign remittance freeze

This could be a powerful threat if millions of Bangladeshis living abroad comply!

Reportedly, more than 200 protesters were killed by police.

"Weeks of deadly protests in Bangladesh have prompted critics to lean on foreign remittances -- the country's second-biggest source of foreign currency -- as their newest weapon against what they blast as state-sanctioned violence.

 

Organizers are calling on nearly 10 million Bangladeshis living abroad to freeze the flow of about $2 billion sent home monthly,"

Bangladesh protest movement launches foreign remittance freeze - Nikkei Asia "Campaign calls on nearly 10 million expats to pressure government over violence"

India Receives a Record $111 Billion in Remittances or 3% of GDP: What Does it Mean? with Palki Sharma

This is huge and very significant!

India leads the world in remittances totaling over $100 Billion in 2022

Good news! With 18 million people India has the largest diaspora in the world!