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How Indian Individuals are shaping the way forward for the US

by Index Investing News
July 17, 2024
in Opinion
Reading Time: 4 mins read
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On July 4, the USA (US) celebrated its founding as a nation 248 years in the past in 1776. There have been no future residents from India within the US at the moment.

San Francisco: Indian-Americans gather outside the Consulate General of India in support of India, in San Francisco, USA. (PTI Photo (PTI)
San Francisco: Indian-Individuals collect outdoors the Consulate Basic of India in help of India, in San Francisco, USA. (PTI Photograph (PTI)

There are Indian Americans within the US right this moment, and so they play a serious function in shaping America’s future. That is the important thing takeaway from a landmark report launched final month by the US-based nonprofit group, Indiaspora, which particulars the contributions of Indian Individuals to the US and their influence on the nation.

The report titled “Small Group, Huge Contributions, Boundless Horizons”, authored in partnership with the Boston Consulting Group, examines the contributions of Indian Individuals in 5 key areas — financial, scientific, social, cultural, and civic. This primary-of-its-kind research underscores the outstanding achievements of the Indian diaspora in a number of of those key sectors and paints a vivid image of how a small ethnic group, comprising simply 1.5% of the US inhabitants, punches manner above its weight and enriches this nation’s economic system and tradition.

The report discovered that, regardless of its small inhabitants, the group contributes considerably to the US economic system, paying greater than 5% of taxes. Final 12 months, 4.4% of senior public service positions have been held by Indian Individuals, up from 1.7% in 2013. Indian Individuals represent 10% of all physicians within the US and serve roughly 30% of all sufferers within the nation. Roughly 22,000 Indian Individuals train at US larger schooling establishments, and 35 out of the highest 50 faculties (70%) within the US have an Indian American of their management.

Indian Individuals are additionally extremely entrepreneurial, having based 11% of almost 650 unicorns (startups valued at over $1 billion). Their entrepreneurial spirit is especially evident within the hospitality trade, the place they personal 60% of all lodges within the US, producing $700 billion in income and creating 4 million jobs yearly.

The report comprises a number of different fascinating tidbits. As an example, half of the Indian American inhabitants lives in 5 giant states: California, Texas, New York, New Jersey, and Illinois, all states with main metropolitan areas. It additionally offers insights into the group’s social construction, noting {that a} fifth of Indian Individuals stay in multi-generational houses, a observe paying homage to the joint household system in India.

The key behind the group’s monetary success lies in its academic attainment {and professional} engagement. Greater than three-fourths of Indian Individuals have at the very least a bachelor’s diploma, and the same proportion work in high-paying professions corresponding to administration, enterprise, science, or the humanities. This academic {and professional} excellence is mirrored in the truth that 16 Indian American CEOs are main Fortune 500 firms.

Summing up the Indian American story, the report concludes: “Indian Individuals are shaping the tech world, saving lives in healthcare, nurturing younger minds as educators, creating cultural wonders as artists, increasing data as students, and unravelling the universe’s mysteries as scientists. They’re a powerhouse of expertise, resilience, and variety that enriches America. Whether or not by means of numbers or private tales, their tales reveal the numerous influence they’ve had on the American narrative. The group’s perseverance and accomplishments illustrate their important function in American society, driving progress and unity.”

Nevertheless, whereas they excel in lots of fields, there are areas the place the group must do higher. Philanthropy, as an illustration, is one such space.

In line with Indiaspora and BCG, Indian American households gave $1.5 billion in 2023. Though it is a substantial quantity, it pales in comparison with the entire giving of all American households, which quantities to about half a trillion {dollars} yearly. In different phrases, per capita, Indian Individuals contribute solely a fifth of what the typical US family provides. It’s value noting, nevertheless, that philanthropic contributions from Indian Individuals have been on the rise in recent times.

Moreover, it’s essential to acknowledge the challenges inside the group, together with the presence of a big undocumented immigrant inhabitants. Whereas poverty charges amongst Indian Individuals are a lot decrease than the nationwide common, a Pew Analysis Heart research revealed that the variety of undocumented Indians has grown from 33,000 in 1996 to 725,000 in 2021, making it the third-largest undocumented immigrant inhabitants within the US.

As this column famous in December, there’s a common lack of empathy inside the bigger Indian American inhabitants for undocumented Indians. Reiterating what was said in that column, there’s a ethical crucial for the Indian American group to provoke a dialogue concerning undocumented immigration, significantly from India.

In closing, it is very important recognise the function the US itself performs in offering a fertile setting for Indian Individuals to maximise their potential by means of its numerous and inclusive panorama, which embraces expertise from all backgrounds. A supportive infrastructure, mixed with the American values of meritocracy and equal alternative, helps Indian Individuals unleash their full potential.

“Should you take a grain of wheat, an agricultural commodity, and make it right into a loaf of bread, the worth add is barely 3 times,” says legendary Indian American advertising and marketing scholar Jagdish “Jag” Sheth. “Should you take a tough diamond and polish it, a superb diamond cutter will get the brilliance out to about 15 to twenty occasions… however in the event you take a human being, mentor, nurture, educate, and provides alternatives, the worth add is infinite.”

This encapsulates what America has executed for immigrants. Indian American immigrants have benefited from that funding. In return, they’re shaping America’s future to unlock the potential of others.

Frank F Islam is an entrepreneur, civic chief, and thought chief primarily based in Washington DC. The views expressed are private



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