Foreign inward remittances to India have surged significantly in recent years as Indian diaspora expands globally. The past five years have seen a 30% increase, with remittances rising to $89.13 billion in 2021-22 from $69.13 billion in 2017-18, according to official government data. Naturally, a growing number of startups have been quick to spot this upward trend, tailoring their services for Indian expatriates to win them over banks and incumbents such as Western Union, PayPal and MoneyGram. A former media executive is joining the fray.
Nishkaam Mehta, who worked at Hulu as head of its mobile strategy and growth for over four years, is working with India’s media conglomerate Times Internet to build an app for Indian expats and offer them a single solution for all their money-transfer needs. Formerly called Times Club, the app has been rebranded as Read Entire Article
