India speeds up money transfers for NRIs in UAE
Good news for NRIs in the UAE who regularly send money home — faster and more reliable transfers are on the way. India is taking major steps to reduce remittance delays and modernize international payment systems. The G20 nations have set a target for 75% of cross-border transactions to be completed within one hour by 2027. Currently, less than 10% of remittances reach Indian accounts within that time frame, with time zone differences and bank verification processes being key reasons for delays.
The SWIFT-GPI system now enables end-to-end tracking of global payments, helping banks accelerate transfers and increase transparency. India’s Finance Ministry and the Reserve Bank of India are also working on a new domestic settlement system to reduce dependency on foreign networks and make transactions more secure and efficient.
A separate report highlights how India’s campus hiring is evolving, with over 220 organizations surveyed. About 73% of them expect strong business growth this year, led by sectors such as IT, healthcare, finance, and consumer goods. Nearly 40% of companies plan to expand their workforce by over 10%, focusing on engineering, AI, and technology roles through skill-based recruitment and regular training programs.
India’s Blue Economy is also emerging as a new engine of growth, covering its 11,098 km coastline and 2.4 million sq km of ocean territory. Major initiatives include port modernization, marine biotechnology, smart fishing, coral reef restoration, and renewable ocean energy projects. These efforts are expected to create sustainable jobs, support coastal communities, and protect marine biodiversity, as India strengthens its leadership role in ocean governance and sustainable development.
