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India is the largest recipient of remittances, which touched $23.4 billion in 2006.
The inflows were growing at around 20 per cent every year, Western Union South Asia Managing Director Anil Kapur said at the prelude to The Economist's business roundtable with the government.
The global remittances business, he added, was worth $269 billion and was growing at 8 per cent per annum.
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