iNDICA NEWS BUREAU-
Indiaspora, a nonprofit organization of global Indian diaspora leaders, has released “Indiaspora Impact Report: Small Community, Big Contributions”, conducted by Boston Consulting Group. The report is the first volume in a series to look at the impact of the Indian diaspora, with a special focus on public service, business, culture and innovation in the United States. In addition to various eye-opening statistics, the project will also profile inspiring individuals who epitomize the contribution of the diaspora across the full range of economic and cultural areas.
“Indian Americans account for only 1.5% of the US population, yet they continue to have an outsized and positive impact across different aspects of US society,” said Indiaspora founder M.R. Rangaswami. “Indian American-driven innovation flows to the country’s bottom line and is laying the groundwork for the next phase of economic growth.”
The number of Indians living in the U.S. has grown to 5 million in 2023, which represents a 50% increase since 2010. The population is a near even split between first generation and those who claim Indian ancestry.
What did the report find?
The report claims that 16 (~3%) out of the Fortune 500 companies are led today by CEOs of Indian origin, which make up ~5% (~$ 978B) of total revenue.
Indian companies have invested a $40B+ in the US (since 2008), contributing to job creation and R&D efforts.
Indian Americans pay 6% of all US Taxes.
There is a strong sense of “giving back” in the community with their donations to US universities totalling more than $3B, including 67 donations of over $1M to more than 40 universities.
Members of the diaspora represent more than 10% of NIH grants and US patents, as well as hold significant positions in academia.
The diaspora is a highly educated group with 77% holding a college degree compared to only 36 percent of Americans overall.
There are 23,000 full-time Indian professors at colleges and universities around the country, who have mentored countless students to reach their educational goals.
With a community that is 5.1 million strong, making up 1.5% of the US population, Indian Americans are woven into the fabric of everyday life in the U.S., contributing richly to its economy, culture, and society. The Indian American diaspora includes 2.8 million first-generation immigrants (including students) and 2.3 million that claim Indian ancestry. Around 70% of Indian Americans are citizens and 60% are between 18-64 years of age.
Between 1975 and 2019, the share of U.S. patents with co-inventors of Indian origin grew by 5x.
There are over 6,000 Indian restaurants in the country, making up about 1% of all dining spots. Plus, 3% of Michelin Guide USA restaurants—39 in total—serve Indian cuisine. More and more Americans are discovering that there is more to Indian cuisine than chicken tikka masala!
Achievements by individuals from the diaspora
Writer, producer, and actor, Mindy Kaling, has created and starred in shows like “The Mindy Project” and “Never Have I Ever”, bringing Indian American narratives to mainstream television.
Tech billionaire Romesh Wadhwani, who signed the Bill Gates and Warren Buffett Giving Pledge in 2012, says he’s committed to hand over 80% of his wealth to his Wadhwani Foundation out of an “obligation to give back”. The Foundation’s mission is to accelerate job growth and provide training for entrepreneurs to improve economic outlook in emerging economies.
Kamala Harris, the first woman of South Asian descent to be elected Vice President of the United States, exemplifies the political achievements of the Indian diaspora.
Surgeon General Vivek Murthy, the nation’s top public health official, has been a leading voice in addressing the opioid crisis and mental health issues in the U.S. Known for his compassionate approach, Dr. Murthy has emphasized the importance of emotional well-being and community support in fostering public health.
The Indian diaspora in numbers
Over 50% of the 5.1 M Indian Americans live in the states of CA, TX, NY, NJ and IL.
~70% are married with ~20% living in a multi-generational household.
~78% have a bachelor’s degree or higher, outpacing the U.S. national average of 36%.
~76% work in professions related to management, business, science or arts.
270K Indian international students each year drive over.
The creators of the report will present and discuss findings at three regional events.
Politics and Public Service, Washington, DC, to be held on June 13, 6:00-9:00 pm, at the National Press Club. Guest speakers include Sethuraman Panchanathan, Director of the US National Science Foundation.
Business and Culture, New York City on June 14, 4:00-6:30 pm, at the Consulate General of India, New York. Guest speakers include Indra Nooyi, CEO of PepsiCo (2006-2018), and Edward Knight, Nasdaq Executive Vice Chairman.
Technology and Innovation, California Bay Area on June 20, 6:00-9:00 pm, Computer History Museum in Mountain View.
