Gujarat is seeing a strong rise in the amount of money held in the state by Non-Resident Indians (NRIs), with NRI deposits reaching ₹1,22,363.74 crore in the first quarter of FY2026-27. The figure represents a 12.4% increase compared with the same period last year, when deposits stood at around ₹1,08,897.99 crore.
The latest figures indicate that Gujaratis living abroad continue to keep a significant share of their savings in the state, while some of this money is also increasingly finding its way into property and other investment opportunities.
Ahmedabad Remains the Biggest Contributor
Ahmedabad continues to have the largest share of Gujarat’s NRI deposits.
The district recorded NRI deposits of ₹27,326.02 crore, accounting for around 22.3% of the state’s total NRI deposit base.
This means that more than one-fifth of all NRI deposits in Gujarat are concentrated in Ahmedabad.
Vadodara stood second with ₹19,447.11 crore, while Kutch followed with ₹18,212.62 crore.
Together, Ahmedabad, Vadodara and Kutch account for a major portion of the state’s overall NRI deposits.
Surat and Rajkot Also Show Strong Growth
The data shows that several other districts are also attracting substantial NRI savings.
Anand ranked fourth with NRI deposits of ₹9,746.58 crore. Surat followed with ₹9,480.82 crore, while Rajkot recorded ₹9,368.49 crore.
Both Surat and Rajkot have shown strong year-on-year growth.
Surat’s NRI deposits increased from ₹8,268.46 crore in June 2025 to ₹9,480.82 crore, while Rajkot’s deposits rose from ₹8,597.65 crore to ₹9,368.49 crore over the same period.
The growth suggests that NRI-linked financial activity is not limited to Gujarat’s biggest city and is expanding across several important districts.
Navsari Moves Into the Top Seven
Navsari recorded NRI deposits of ₹6,928.78 crore, placing it seventh among Gujarat’s districts.
It was followed by Gandhinagar, which recorded ₹5,353.23 crore and newly entered the state’s top 10.
Jamnagar also made a notable move, ranking 10th after recording NRI deposits of ₹2,171.69 crore.
Meanwhile, Kheda and Porbandar completed the top 10 with deposits of ₹3,138.04 crore and ₹2,805.37 crore, respectively.
NRI Money Increasingly Linked to Investments
The rise in deposits reflects continued interest among overseas Gujaratis in keeping their money in the state.
A significant portion of these funds is also being channelled into high-end residential properties, particularly in Ahmedabad, while mutual funds are emerging as another investment option.
This suggests that NRI money is not only being kept in traditional bank deposits but is also increasingly being directed towards other forms of investment.
What the Numbers Indicate
The latest figures point to the continued financial importance of Gujarat’s large overseas community.
With NRI deposits crossing ₹1.22 lakh crore, the state remains a major destination for savings sent back by Gujaratis living and working abroad.
Ahmedabad remains the clear leader, but the strong figures from Vadodara, Kutch, Anand, Surat and Rajkot show that NRI financial activity is spread across the state.
The increase also highlights the growing role of NRIs in Gujarat’s financial and investment ecosystem, particularly in banking, real estate and mutual funds.
Also Read: RBI Move May End 22-Year Freeze: Gujarat Could Get 4–6 New Co-operative Banks https://www.vibesofindia.com/rbi-move-may-open-door-for-new-urban-cooperative-banks-in-gujarat/
