Published on December 23rd, 2010 | by drkkr1
INDIANs Rock in UNITED STATES !!!
The 2.57 million Indian Americans in the United States contribute to the U.S. economy and society in numerous ways. It’s hard to measure their economic impact with any precision. Here are some pointers in that direction.
- A 2007 joint Duke University –UC Berkeley study found that Indian immigrant entrepreneurs had founded more engineering and technology companies during 1995-2005 than immigrants from Britain, China, and Taiwan combined.
- A 2007 study by the National Venture Capital Association (NVCA) found that India was the most common place of birth for foreign-born founders of venture capital-backed public companies, followed by Britain, China, Iran, and France.
- The list of major companies whose founders or co-founders are of Indian heritage include Akamai (1,750 employees), Bose Corporation (8,000 employees), iGate (6,910 employees), Kanbay International (6,900 employees), Sun Microsystems (29,000 employees), and Syntel (13,600 employees). Dozens of such companies in the United States have created tens of thousands of jobs.
- There are currently almost 10,000 Indian American owners of hotels/motels in the United States, who together own over 21,000 hotels with 1.8 million guest rooms and property valued at $129 billion. They employ 578,600 workers.
- There are about 50,000 physicians (and 15,000 medical students) of Indian heritage in the United States, serving in cities, rural, and peripheral areas throughout the country. They continue to make major contributions to their communities, to healthcare, and to the medical profession in the United States.
- Education is one of America’s finest export. The foreign students who come for higher studies to the United States not only bring talent, but also contribute to the U.S. economy via tuition and living and other expenses. The expenses incurred by foreign student in the United States are “deemed exports,” with implications for thousands of jobs linked to such exports.
India has had largest number of foreign students in the U.S. among all countries of origin for eight years in a row. In 2008, there were 94,563 students from India whose net contribution to the U.S. economy was $2.39 billion.
All in all, the blog shows how America benefits from economic engagement with India and with people of India origin. It has highlighted only the financial and employment benefits of such engagement to the United States, which of course are the biggest issues facing the United States today. However, the non-financial benefits of engaging with India are equally significant-regional security, and political advantages to name just a few.