Indian Diaspora’s Influence in the US: From Economy to Culture – South Asia Time

Indian Diaspora’s Influence in the US: From Economy to Culture

 August 23, 2024  

New York — The Indian diaspora in the United States, though numerically small, has made significant contributions to the nation’s economy and culture. Contributing more than $300 billion annually in tax revenues to the federal treasury, this community is known for its economic impact and cultural influence.

Kamala Harris’ presidential run has brought renewed attention to this high-achieving community. Her mother, Shyamala Gopalan, who immigrated to the US in the late 1950s, embodies the spirit of the Indian diaspora’s pursuit of education and opportunity. The community’s presence in senior public service roles is notable, with Indian Americans holding over 4.4% of these positions despite comprising just 1.5% of the US population, according to the latest Indiaspora Impact Report.

Indian-origin leaders helm 16 of the Fortune 500 companies, generating $978 billion in revenue and employing 2.5 million people globally. Moreover, 72 of the 648 unicorn startups in the US have Indian-origin founders, employing over 55,000 people.

Beyond the economic realm, the cultural impact of the Indian diaspora is evident. From cuisine to cricket, the influence is widespread, with Indian-owned establishments playing a major role in the hospitality sector, generating $700 billion in revenue and creating 4 million jobs. The diaspora also celebrates its heritage through the proliferation of Indian cuisine and the growing popularity of yoga and cricket in the US.

In the broader Indo-US corridor, trade and investments continue to grow, highlighting the mutual benefits of this dynamic relationship. Indian companies have invested $40 billion in the US, creating over 426,000 jobs, while the US remains a top source of remittances to India. This vibrant corridor underscores the significant contributions of the Indian diaspora to both the US and global economies.