Thiruvananthapuram: NRI remittances to Kerala has crossed Rs 1 lakh crore mark in the financial year 2014-15. NRI remittances play a key role in Kerala economy.  It may be noted that Malayalis migrated to Gulf and foreign countries in large numbers.

Though  Saudi Arabia implemented Nitaqat policy according to which 10 per cent of all the jobs are reserved for locals and prevailing volatile conditions in Gulf countries, the foreign remittances increased.

According officials 20 lakh Indians are working in Saudi Arabia and among them 5.7 lakh are from Kerala. India is the largest recipient of  foreign remittances in the world as its diaspora is spread across the globe. According to official data, 50 lakh of the  3.15 crore population in Kerala depend on foreign remittances for survival.