Indiaspora Releases Report on Impact of Indian Diaspora in America
June 18 2024 - 10:55AM
Indiaspora, a nonprofit organization of global Indian diaspora
leaders, today unveiled a report conducted by Boston Consulting
Group, “Indiaspora Impact Report: Small Community, Big
Contributions, Boundless Horizons.” 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 a wealth of 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.
Following events in Washington D.C. and New York City, creators
of the report will present and discuss findings in the California
Bay Area:
- Technology and Innovation, California Bay AreaJune 20,
6:00-9:00 p.m., Computer History Museum in Mountain View,
CaliforniaGuest speakers include Geetha Murali, CEO Room to Read,
Navin Chaddha, Managing Partner, Mayfield Fund, and Manish Chandra,
Founder & CEO at Poshmark
As the second largest migrant group in the United States, with a
young, highly educated population, the report evaluated the impact
of Indian immigrants and Americans of Indian heritage on American
life. The report analyzed the group’s impact across economic,
cultural, scientific, civic, social and philanthropic areas. At a
time when issues around immigration remain highly divisive, Indian
Americans have broken through many barriers to become one of the
most influential immigrant groups in the U.S. today.
“Indian Americans account for only 1.5% of the U.S. population,
yet they continue to have an outsized and positive impact across
different aspects of 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 split nearly evenly between first generation and those who claim
Indian ancestry. Their far-reaching impact on the lives of
Americans includes:
- U.S. economy:
- 16 (approximately 3%) of Fortune 500 companies are led today by
CEOs of Indian origin, which make up approximately 5% ($ 978
billion) of total revenue.
- Indian companies have invested more than $40 billion in the
U.S. since 2008, contributing to job creation and R&D
efforts.
- Indian Americans pay 6% of all U.S. taxes.
- Philanthropy:
- There is a strong sense of “giving back” in the community with
their donations to U.S. universities totaling more than $3 billion,
including 67 donations exceeding $1 million each to more than 40
universities.
- Science and innovation:
- Members of the diaspora represent more than 10% of NIH grants
and U.S. patents, and hold significant positions in academia.
- Education:
- The diaspora is a highly educated group with 77% holding a
college degree compared to only 36% 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.
“Though spelling bee champions and CEOs may grab the limelight,
as more Indians call America ‘home,’ their impact is reaching
across US culture in ever more significant ways,” said Sesh Iyer,
North America Regional Chair, BCG X. “From Indian traditions like
Holi and Diwali, to the expanding popularity of Indian restaurants,
yoga and cricket in US culture, India continues to add new spice to
America’s 250 years of cultural confluence.”
For a copy of the report or to attend a regional event, please
contact Mira@indiaspora.org or visit BCG Impact Report —
Indiaspora.
About IndiasporaIndiaspora (www.indiaspora.org)
is a nonprofit organization established to transform the success of
the Indian diaspora into meaningful impact worldwide. Their members
form a powerful network of global leaders who serve as a platform
to build stronger communities with a culture of giving and
inspiring social change.
Press Contact:
Laurie Gibson, Kickstart Consulting for Indiaspora
lgibson@kickstartconsulting.com
(650) 815-1438