A recent report by Indiaspora and Boston Consulting Group (BCG) highlights the significant economic impact of Indian Americans in the United States. Despite comprising only 1.5 percent of the US population, the 5.1 million-strong Indian diaspora contributes about 5-6 percent of all income taxes in the country, amounting to approximately $250-300 billion.
Indian Americans are influential leaders in various sectors, with sixteen Indian-origin CEOs heading Fortune 500 companies, including Microsoft’s Satya Nadella, Google’s Sundar Pichai, and Vertex Pharma’s Reshma Kewalramani. Collectively, these CEOs employ 2.7 million Americans and generate nearly $1 trillion in revenue.
In the startup world, Indian Americans have co-founded 72 out of 648 US unicorns as of 2024. These startups employ over 55,000 people and have a combined valuation of $195 billion.
The Indian diaspora’s commitment to education is noteworthy, with around 78 percent of Indian Americans holding a bachelor’s degree or higher, significantly higher than the US national average of 36 percent. Approximately 22,000 faculty members in American universities are of Indian descent, and they hold key leadership positions in 70 percent of the top 50 US colleges.
Indian-origin innovators have made significant contributions to research and academia in the US. Between 1975 and 2019, the share of US patents involving Indian-origin innovators increased from 2 percent to 10 percent. In 2023, they accounted for about 11 percent of all NIH grants and 13 percent of scientific publications.
Indian Americans also hold notable positions in the US government and global policymaking. As of 2023, around 150 Indian Americans are in the Federal administration, including Vice President Kamala Harris. Ajay Banga, the new president of the World Bank, exemplifies the diaspora’s influence in shaping global policies.
The Indian diaspora also impacts their home country through philanthropy. They contributed over $1.5 billion to various causes in the US and supported causes in India with around $830 million in donations during 2018-19, making up 35 percent of all donations to India.
Despite their achievements, the Indian American community faces challenges. About 6 percent of Indian Americans were below the poverty line as of 2020, and an estimated 14 percent were undocumented in 2021.
