Since people from India are numerous and the nation has been connecting to the remainder of the world over centuries, millions of Indians have traveled and settled in different parts of the world. This has made Indians a part and parcel of so many countries demography.
In this article we try to identify which country harbors the highest number of Indians that exists outside the country and how the community has assumed a dominant role in the global economy.
A Global Community of Overseas Indians
As per data available on current population India has the largest population in the world with an estimated 1.43 billion population. Not surprisingly, the emigration figures are also higher over the identified period with a total of 78,265,377 expatriate Indians.
India’s Ministry of Foreign Affairs stated that in May 2024, there are 34,92,590 Indian emigrants, out of whom 15,85,868 are accounted for as NRIs and remaining 19,57,722 are people having Indian origin living in other countries.
The UAE: A Hub for Indian Workers
The UAE hosts a large number of Indians and therefore is one of the favorite countries for Indian employees who look for a job abroad. Often recognised for highest paying jobs and tax-free income, UAE has many Indians skilled and unskilled worker pool.
Due to its zero income tax policy it becomes a favourite country for Indians to work and save and in the process remit back a lot of money to India.
Effects of Indians on International Business
Apart from their well-known part in providing the funds, Indians have made a long-lasting impression on the world of commerce. As for now it remains 24 Indians who are heading Fortune 500 generic companies across the globe.
Collectively, today, these Indian-lead companies provide 2.7 million plus American jobs and have an annual turnover of more than a trillion US dollars.
Indians are a force to reckon with in the global startup ecosystem – here is the proof. Indian-origin entrepreneurs have started 72 of the 648 uniquely American unicorns currently valued at about $195 billion.
Today these startups are allowing more than 55 000 employees thus having a huge impact on the innovations and economic development.
Huge Contributions in United States of America
Similar importance of Indian Americans can be seen in small businesses specifically in restaurant businesses in the united states. A survey revealed that Indian own more than sixty percent of total hotels in USA.
Besides starting businesses, buying homes and investing heavily, Indian-Americans pay between 5%-6% of all the income taxes paid in the country, about $250-$300 billion every year. This major contribution helps build the US tax base and reflects the prosperity of the Indian community.
Innovation and tradition of academe
Like other section of Asian Americans, the Indian Americans have also exerted their efforts in research and innovation in the United States. Recently they have been known to own more of the share of the US patents.
The Indian-American patentees have shifted the American industry upswing between the years 1975 and 2019, where India has been elevated from 2% to 10%.