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A report by Indiaspora and Boston Consulting Group (BCG) says that Indian Americans pay about 5-6 per cent of all income taxes in the US despite making up just 1.5 per cent of the country’s population. In actual terms, the 5.1 million strong Indian diaspora pays approximately $250-300 billion in income taxes in the US. Out of this population, 2.8 million are first generation Indian immigrants.
Microsoft’s Satya Nadella, Google’s Sundar Pichai and Vertex Pharma’s Reshma Kewalramani (the first female CEO of a US biotech major) are among the 16 Indian origin CEOs who head Fortune 500 companies. These leaders collectively employ 2.7 million Americans and generate nearly $1 trillion in revenue between them, the report further estimates.
“From leading largest enterprises and founding new companies, to employing millions of people across all states, the financial influence of the Indian diaspora shows the determination of individuals who overcame challenges to make meaningful contributions to their new home,” the report notes.
The Indian diaspora has a remarkable presence in the US government and global policy making. Roughly 150 Indian Americans hold notable positions in the Federal administration in the US as of 2023 including the country’s Vice President Kamala Harris. With Ajay Banga as World Bank’s new president, Indian Americans are also redefining developmental economics and shaping global policies, the report notes.
They are also contributing to America’s research, innovation and academia. Between 1975 and 2019, the share of US patents with Indian origin innovators jumped from around 2% to 10%. In 2023, research groups with scientists of Indian origin claimed about 11% of all NIH grants and contributed to 13% of scientific publications.
Microsoft’s Satya Nadella, Google’s Sundar Pichai and Vertex Pharma’s Reshma Kewalramani (the first female CEO of a US biotech major) are among the 16 Indian origin CEOs who head Fortune 500 companies. These leaders collectively employ 2.7 million Americans and generate nearly $1 trillion in revenue between them, the report estimates.
Indians have co-founded 72 out of 648 US unicorns operating as of 2024. These companies employ over 55,000 people and are valued at $195 billion.
This is the first-ever data-driven report showcasing the contributions of the Indian diaspora in the US. Espousing the theme that resonates within the heart of the diaspora “Every town is my town, and all the people in the world are my kin”, this report dives deep into the diaspora’s impact across five key dimensions—economic, scientific, social, cultural, and civic. Guided by a distinguished steering committee of industry leaders, academic scholars, and business executives, the report ensures comprehensive and insightful analysis. This report also celebrates the remarkable achievements of Indian Americans, both in the US and their contributions to India, Indiaspora mention on their website.
