Wealthy American NRIs could dwarf US aid to India

INVESusdollarAccording to new research by a publication for philanthropists and social innovators published by the Bridgespan Group, Dasra and Stanford Social Innovation Review, Indian Americans who have a combined annual discretionary income of $67.4 billion can play an important role in philanthropic activities in India that could dwarf official US foreign aid to India by some 10 times.

The sum would dwarf official US foreign aid to India ($116,4 million in fiscal year 2014) and what’s more it would represent over half the entire amount of annual official development aid received by India from all countries, which was $2.2 billion on average, from 2005 through 2013.

According to the report PM Narendra Modi seems particularly tuned in to the potential for financial and non-financial support from the Indian American diaspora.