We recently reported that there are now 5 million Indians in America, making up 1.5% of the population who are making a huge impact on American life, especially in business, culture, and public service.
Now a new report by Indiaspora and Boston Consulting Group (BCG) underscores the huge economic impact of Indian Americans, who pay around 5-6% of all US income taxes, despite being just 1.5% of the population.
Also Read – Indians Liberated After 3 Months of Mid-Sea Torture
This equates to approximately $250-300 billion in income taxes annually. Around 70% of Indian Americans are US citizens.
Leaders of Indian origin, including Microsoft’s Satya Nadella, Google’s Sundar Pichai, and Vertex Pharma’s Reshma Kewalramani, head 16 Fortune 500 companies, collectively employing 2.7 million Americans and generating nearly $1 trillion in revenue.
Also Read – Tragic Killing Of Hyderabad Student in UK
Indian Americans own most US hotels, adding billions in taxes and creating more jobs.
In the startup arena, Indians have co-founded 72 of the 648 US unicorns, employing over 55,000 people and valued at $195 billion.
Also Read – Richest Family in UK; Still Forced into Jail
In academia, they hold many patents and receive key research grants.
Educationally, Indian Americans excel, with 78% holding a bachelor’s degree or higher, compared to the US national average of 36%.
Culturally, Indians enrich American life with cuisine, festivals, and literature. Politically, they hold significant positions, including Vice President Kamala Harris.
Indian cinema is also very popular, boosting the US economy
The Indian diaspora’s achievements also benefit India, with over $1.5 billion donated to US philanthropic causes and around $830 million sent to India in 2018-19, making up 35% of all donations to the country.
Despite these success stories, the Indian community faces challenges, with 6% living below the poverty line as of 2020 and an estimated 14% undocumented in 2021.
You May Like This
You May Like This
