New Delhi: Indian American households reported a median annual income of about $151,200, far above the US median of roughly $83,700 and ranked first among all major ethnic groups in the country, a new report has said.
The report from The Australia Today, which cited Pew Research Center findings, said that Indian American households earn roughly $67,000 more per year or nearly 80 per cent higher than the typical American household.
Indian Americans, roughly 4.8 million people, make up a relatively small portion of the US population, just about 1.4 per cent of the country’s total population. Despite this modest share, their economic footprint, however, is significant due to high participation in professional, technical, and specialised fields, the report said, citing Pew findings.
“Even among other high-earning Asian communities, Indian Americans maintain a clear lead,” it added.
Taiwanese American households rank second with a median income of about $133,300, indicating that Indian American households earn roughly $17,900 more, or about 13–14 per cent higher. The combined median income for all Asian American households is approximately $105,600, still well below the average Indian American household, the report added.
High income of Americans of Indian origin also translates into a notable contribution to federal revenue. Indian American households collectively pay around 6 per cent of taxes, showing their concentration in top-income brackets and strong professional engagement, the report noted.
Tesla CEO Elon Musk had recently said that people of Indian origin, especially engineers, scientists and entrepreneurs have made and continue to make major contributions across industries in the United States.
Addressing concerns in the US over immigrants stealing jobs from locals, Musk said his companies struggle to find highly skilled people and global talent helps him bridge the talent gap.
The government had earlier this month said that India and the United States continue to remain engaged in discussions for a mutually beneficial bilateral trade agreement.
(IANS)
