A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories. International Research Journal of Management and Commerce (IRJMC) ISSN: (2348-9766) 1 | Page International Research Journal of Management and Commerce Vol. 4, Issue 4, April 2017 Impact Factor- 5.564 ISSN: (2348-9766) © Associated Asia Research Foundation (AARF) Website: www.aarf.asia Email : editor@aarf.asia , editoraarf@gmail.com INVESTMENT ORIENTATION OF MIGRANT REMITTANCES: EVIDENCE FROM KERALA Veena Varma Research Scholar, Department of Commerce, Bharathiar University, Coimbatore, India. & Dr. Tomy Mathew, Professor and Head, Department of Commerce, CMS College, Kottayam, India. ABSTRACT International migration and the resulting inflow of remittances have, without doubt, increased the economic status of migrant households in Kerala. But, have the state been able to boost investment oriented remittances sufficiently to influence the development interest of Kerala? The lopsided growth pattern suggests otherwise. The paper seeks to test this hypothesis by a descriptive analysis of data. The study finds that the impact of remittances is not reflected in the productive sectors of economy as the investment pattern of migrant remittances is not in tune with the larger development interest of the state. Key words: Remittances, Development, Growth, Consumption expenditure, Savings and Investment 1. Introduction In many developing countries, international remittances are an important source of income for millions of families and of foreign exchange earnings. This holds true for India where workers' remittances have remained an almost stable and reliable source of external financing over the last three decades. Amidst the slower growth pace of remittances to developing countries, India remained the World's largest remittance recipient in 2015, attracting about $ 69 billion in remittances, according to World Bank's annual report (World Bank, 2016). Within India, Kerala traditionally holds the leading position among the Indian states receiving remittances. Kerala's heavy reliance on migrant remittances is underlined by the