Friday, November 22, 2024

With Kamala Harris’ nomination, Indian diaspora finds recognition in the US

The influence of the Indian diaspora in the United States is unmistakable. From the boardrooms of Silicon Valley to the kitchens of popular Indian restaurants and the cultural mainstreaming of yoga and cricket, Indian Americans continue to shape the US in diverse and meaningful ways

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Kamala Harris’ candidacy for the US presidency has spotlighted the Indian diaspora, a relatively small yet highly accomplished community in America. Harris, with her Indian heritage, symbolizes the aspirations and achievements of Indian Americans. Her mother, Shyamala Gopalan, who immigrated to the US in the late 1950s, represents the quintessential journey of Indian immigrants: driven by a commitment to education and opportunity. Gopalan’s legacy is one of resilience and ambition, traits that have shaped Harris into a leader who exemplifies the Indian-American community’s contributions.

The narrative of an Indian father investing a year’s salary to send his son to the US for higher education, such as a master’s degree at Stanford, is emblematic of the Indian diaspora’s journey. Fast forward three decades, and that son could very well be a tech leader or the CEO of a major global company. Sundar Pichai, CEO of Google, is one of the many trailblazers in this regard, demonstrating the diaspora’s significant influence in technology and business.

According to the latest Indiaspora Impact report, Indian-origin founders lead 72 out of the 648 unicorn startups in the US, employing over 55,000 people—11% of the country’s total unicorns. Companies like Rippling, Lacework, Cambridge Mobile Telematics, and Innovacer illustrate the breadth of Indian-American entrepreneurship, ranging from tech innovation to enhancing road safety and reducing healthcare costs.

Satya Nadella’s leadership at Microsoft is another example of the transformative impact of Indian Americans. Under Nadella’s guidance, Microsoft made significant advancements in cloud computing and artificial intelligence while fostering a culture of collaboration and innovation.

  • The Indo-US relationship has also fostered robust economic ties. In the fiscal year 2023, US imports to India grew to $51 billion, while Indian exports to the US reached $79 billion for goods and $33 billion for services

  • Furthermore, Indian companies have invested a cumulative $40 billion in the US, creating approximately 426,000 jobs

  • The US remains a significant source of remittances to India, contributing around $26 billion in 2022-2023, underscoring the economic interdependence between the two nations

The influence of the Indian diaspora is not a one-way street. Approximately 20% of Indian unicorns and several startups have co-founders who utilized their US education to build successful enterprises. For instance, the founders of PhonePe, a leading fintech firm in India, were educated in the US before returning to India to launch their venture, which is now valued at $12 billion.

With a population of 5.1 million, including 2.8 million first-generation immigrants, the Indian diaspora is a dynamic community that impacts more than just the economy. Their influence extends to American culture, from popularizing Indian cuisine to bringing cricket into the mainstream.

About 60% of all US hotels are owned by Indian Americans, contributing significantly to the $700 billion hospitality industry and creating millions of jobs.

The popularity of Indian cuisine has soared, with numerous Indian restaurant chains like Curry Up Now, Chutneys, The Butter Chicken Company, Rangoli Grill, Twisted Indian Wraps, and Honest becoming household names across states such as California, New Jersey, New York, and Texas. Additionally, yoga has become a staple practice for many Americans, with one in ten engaging in yoga as of 2023.

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Readers

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