Indian Prime Minister Narendra Modi is greeted by Adeeb Ahamed, Managing Director, LuLu International Exchange Image Credit: Supplied

India is today one of the world’s fastest-growing economies. Over the past seven decades, India has shown its prowess in various fields and Indians around the world can take pride in the giant leaps the country has taken.

NRIs are some of the biggest investors in India, and remittances are an integral part of this growth story. India continues to be the world’s top recipient of inward remittances, with nearly $79 billion (Dh290 billion) coming into the country in 2018, according to the latest World Bank report. Over the past three years, India has registered a significant flow of remittance from $62.7 billion in 2016 to $65.3 billion 2017.

In relation to the increased need for financial services, companies in the region have evolved likewise to cater to the South Asian expat community. LuLu Exchange, an ISO 9001: 2015-certified organisation with easily accessible and widely networked branches across the region, acts as the go-to financial services outlet for expats. With products like the LuLu Money app, which allows super-quick and easy money transfers to your loved ones, LuLu Exchange remains at the forefront of technological innovation in this sector.

The LuLu Money app has various features including instant online transactions, payment tracking in real time, rate alert setting and payment history.

Besides remittances, customers can exchange foreign currency at competitive rates and avail other value-added services such as credit card payments and mobile top-up for their home country, among others. The organisation also offers its customers the Gold Card, which allows them to obtain a host of benefits at LuLu Exchange bureaus, and discounts at various other partner outlets across the length and breadth of the UAE. LuLu Exchange currently has more than 185 branches spread across the UAE, Oman, Kuwait, Qatar, Bahrain, India, Seychelles, Hong Kong and the Philippines.