A new report from Indiaspora and the Boston Consulting Group builds on the 2024 Impact Report and shows how Indian American philanthropy is changing the future of higher education in the US.
Many donors, including successful professionals, entrepreneurs, and academics, say that their time in American universities was the most important thing that shaped their careers. Their donations show that they are thankful and believe strongly that education is the key to success. “Indian American donors who care about education are putting their money where their mouth is by giving to universities,” said MR Rangaswami, the founder and chairman of Indiaspora. “They are also saying something bigger: they believe in America’s future and want to make sure that everyone has a chance.”
The Indian diaspora has a lot of power in education. A bachelor’s degree or higher is held by about 78% of Indian Americans, which is much higher than the national average. Right now, almost 270,000 Indian students are studying at American universities. They bring in about ₹83,000 crore, or 10 billion dollars, to the U.S. economy every year and support more than 93,000 jobs.
Since 2008, Indian Americans have given more than ₹25,000 crore to colleges and universities in the U.S. Most of this giving has gone to schools that teach medicine and health sciences, engineering, and business. A lot of money has also gone to cultural preservation, with almost ₹1,170 crore (140 million dollars) going to cultural programming, such as endowments for South Asian, Hindu, and Indian studies.
For example, Sumir Chadha‘s donation to Princeton University helped start the Chadha Center for Global India. These kinds of projects show how Indian American philanthropy is not only improving schools but also raising cultural awareness and building stronger ties between people from different countries.
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