A recent report by the Boston Consulting Group, titled the ‘Indiaspora BCG Impact Report,’ has unveiled the significant influence of the Indian diaspora on various sectors in the United States. As the second-largest migrant group in the U.S., with a young and highly educated population, Indians have become pivotal in shaping the country’s economy, culture, and education.
Launched in New Delhi, the report delves into the contributions of Indian immigrants and Americans of Indian heritage across economic, cultural, scientific, civic, social, and philanthropic domains. External Affairs Minister S. Jaishankar participated in a panel discussion during the event, emphasizing the evolving nature of Indian migration to the U.S. and its alignment with India’s growth trajectory.
Economic Impact:
– Indians currently make up 5 million of the U.S. population, a 50% increase since 2010.
– 16 Fortune 500 companies, representing approximately 5% of total revenue ($978 billion), are led by CEOs of Indian origin.
– Indian companies have invested over $40 billion in the U.S. since 2008, contributing to job creation.
– Indian Americans pay 6% of all U.S. taxes, and 60% of hotels in the country are owned by Indian diaspora members.
Philanthropy:
– Indian-Americans have donated over $3 billion to U.S. universities, including 67 gifts exceeding $1 million each to more than 40 institutions.
Science and Innovation:
– The Indian diaspora contributes to more than 10% of NIH grants and U.S. patents, holding key academic positions.
Education:
– 77% of Indian-Americans hold a college degree, compared to 36% of the overall American population.
– Approximately 23,000 Indian professors in U.S. colleges and universities have mentored countless students, making a lasting impact on education.
The report highlights the deep-rooted and expanding influence of the Indian diaspora, illustrating how they continue to play a crucial role in America’s success story.
Source: India.com
