Based on the most recent data from the 2022 US census, the median yearly household income was $74,580. Households headed by individuals of Indian heritage had a sum of $152,341. Members of India's diaspora in the United States earn more than any other ethnic group and provide over 25% of India's total remittances. Ethnic Indians in the United States send less than 15% of their salary back to their families in India. With $125 billion sent back by Indians living abroad last year, the Indian diaspora could be responsible for about as much economic production as Switzerland, or around 0.8% of global output, according to this global statistic. Having said that, Indians in other parts of the world do not have it so good. Therefore, this approximation can be seen as the maximum extent to which the diaspora contributes to the global economy. The diaspora of Indian origin probably generates more money than Pakistan and Bangladesh put together.
Although India's migrant and emigrant communities are economically active, their contributions are significantly underreported when compared to the country's 3.4% global GDP contribution. Ethnic Indians' income in their host nations is captured by GDP by design. Due to the longer-term employment contracts of India's migrant labor, gross national income (GNI), another metric that accounts for migrant workers' economic activities, does not provide any additional insight. An explanation for the unusually robust transfer of wealth could be the 32 million "overseas Indians" who maintain deep cultural ties to their home country.
The behavioural impacts of having Indians managing companies like Google, Microsoft, and Britain are even harder to explain by official data like GDP. This ensures that India's top talent will continue to leave the country in quest of better job opportunities. More room is also made available for those who prefer to work from home. The increased economic power that India's emigrants achieve while working overseas ensures that the country will continue to lead the labor export market for the foreseeable future. First things first: India must determine how much of an economic impact its diaspora has.
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