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Indian-American Diaspora Plays an Important Role in Country’s Development

Indian-Americans who want to share their success philanthropically with those in India can do so easily because of American-based groups such as AIF, Pratham U.S.A.

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US Embassy in Jerusalem drawing criticism from across the world. Pixabay

Over 31 million people of Indian birth or descent are part of the Indian diaspora spread around the world. Of them, 3.1 million, or 10 per cent, are Indian-Americans living in the US. The Indian-American diaspora has proven to be a vital resource contributing to the economic, political and social development of India.

Devesh Kapur highlighted the importance of the Indian diaspora in his classic 2010 book, “Diaspora, Democracy and Development: The Domestic Impact of International Migration from India”. Kapur’s analysis focused primarily on the period from the late 1960s until the end of the 20th century.

Indian-American influence, impact, and contributions were significant then and have grown even more so as we move forward into the 21st century. Part of the reason for this is that the Indian-American population on average stands head and shoulders economically and educationally above those in other Asian American subgroups and the US population in general.

A Pew Research study released in 2013 disclosed that the median annual household income for Indian Americans was $88,000 compared to $66,000 for all Asians and $49,800 for the US population. The study also revealed that 38 per cent of Indian-Americans held advanced degrees compared to 30 per cent for all Asian Americans and 10 per cent for the entire population.

Over 31 million people of Indian birth or descent are part of the Indian diaspora spread around the world. Of them, 3.1 million, or 10 per cent, are Indian-Americans living in the US.
Around 38 per cent of Indian-Americans held advanced degrees compared to 30 per cent for all Asian Americans and 10 per cent for the entire population. Pixabay

Indian-Americans excel as high tech entrepreneurs. A study by Vivek Wadwha for the period from 2006 to 2012 showed that overall immigrant entrepreneurship “stagnated” compared to the period from 1995 to 2005. But start-ups by Indian immigrants increased seven per cent over the prior period and a full 33.2 per cent of all start-up companies were founded by Indian Americans.

It’s not just that Indian Americans are doing well. They are also inclined to stay connected with India through investments, philanthropy and personal involvement. The Indian Diaspora can bring broad economic benefits to India. They can make substantial contributions in the areas of Innovation and entrepreneurship; health care; education; and skills development. They can help in creating jobs and in creating new companies across India. They can create a platform by sharing best practices and technology with small and medium enterprises and helping them to access financing.

In its 2014 paper, “The Indian Diaspora in the United States”, the Migration Policy Institute (MPI) reports that “The Indian diaspora community is noted for being very well organised and having a deep and multifaceted engagement with the homeland. Many consider giving back an obligation and a welcome responsibility.”

I am one of those who feel that responsibility. Through the foundation my wife Debbie and I have established, we have underwritten the building of a new management complex, Frank and Debbie Islam Management Complex, which was opened last year at my alma mater Aligarh Muslim University. We have also pledged to provide considerable financial support to develop a technical training school for women in India so that they can be empowered through higher education.

Indian-Americans who want to share their success philanthropically with those in India can do so easily because of American-based groups such as AIF, Pratham U.S.A. and Ekal which provide a structured and organised approach for giving across a wide range of areas. Thanks to the work of these organisations and others, a number of high-impact initiatives have been launched in India in fields such as education, poverty alleviation and job training.

Over 31 million people of Indian birth or descent are part of the Indian diaspora spread around the world. Of them, 3.1 million, or 10 per cent, are Indian-Americans living in the US.
The start-ups by Indian immigrants increased seven per cent over the prior period and a full 33.2 per cent of all start-up companies were founded by Indian Americans. Pixabay

Indian-Americans can reach out to have an impact in India through a wide variety of organisations. As the MPI notes in its study: “The Indian diaspora has established countless highly organised, well-funded, and professionally managed groups. These organisations address a broad range of issues and take on many different forms, including philanthropic projects to improve health and education in India, advocacy organisations, business and professional networks, media outlets, and societies for the promotion of Indian culture, language and religion.”

The Narendra Modi administration recognised the pivotal importance of the US-India relationship and that is why it established a Strategic and Commercial Dialogue during President Obama’s Republic Day visit to India in 2015. After Donald Trump became President, it scheduled an India-U.S. two-plus-two dialogue.

That dialogue was to revolve around India External Affairs Minister Sushma Swaraj and US Secretary of State Rex Tillerson. It was tentatively scheduled to take place on April 18-19 but was postponed due to Tillerson’s firing by President Trump.

Now that Mike Pompeo has been confirmed as the new Secretary of State it appears that the two-plus-two dialogue will be set up for some time in May or June. This meeting is important to the future of India-US relations. But it is also important to note that two-plus-two only adds up to four.

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India has grand ambitions and the success of its Make in India National Manufacturing Policy depends on the US being one of its key partners. This requires much more than ambition. It demands multiplication and exponential assistance in order to achieve its India’s lofty goals.

Indian-Americans have been a vital resource in the growth and development of India to date and they have the wherewithal to be even more so. Because of their accomplishments in the US and understanding of India they are uniquely positioned to help India address pressing issues and priorities in order to achieve its full potential.

India needs to reach out to Indian-Americans and their organisations and make them central to its growth and development process. They will make the difference by being the vital resource and ally that India needs to convert dialogue and talk into action and results. (IANS)

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New York Times Devotes Entire Front Page to COVID-19 Victims

The names of 1,000 of the COVID-19 victims were published on the front page of New York Times

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The New York Times dedicated its front page to the names of COVID-19 victims. Pixabay

The New York Times has devoted its entire front page to the names of 1,000 of the COVID-19 victims as the US approaches nearly 100,000 virus deaths, the current highest in the world as suggested by COVID-19 Information & Resources.

The Sunday edition’s front page comprises a simple list of names and personal details taken from obituaries around the US, the BBC reported.

The headline is “US deaths near 100,000, an incalculable loss”, with a sub-heading that reads: “They were not simply names on a list. They were us.”

New York state, the epicentre of the US coronavirus pandemic, has recorded 385,000 confirmed cases, with 23,195 deaths, according to the Johns Hopkins University.

New York Times
Newspaper article titled “A New Physics Based on Einstein” published in ”The New York Times” on November 25, 1919. Wikimedia Commons

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New York City accounts for 197,000 infections and 16,149 fatalities.

As of Sunday, the US registered the world’s highest number of cases and deaths at 1,622,670 and 97,087, respectively. (IANS)

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US White House Releases Report Announcing Onset of Cold War With China

US has formally announced the onset of Cold War with China

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US has officially announced Cold war with China. Wikimedia Commons

By Aarti Tikoo Singh

With its new vision document on China, the US has formally announced the onset of its Cold War with the Asian giant, accusing it of exploiting rule-based world order and re-shaping international system in favour of Chinese Communist Party’s (CCP) ideology and interests.

Just short of calling it Cold War, the US in its latest report titled, ‘United States Strategic Approach to the People’s Republic of China’, released by the White House, has announced that it is “responding to the CCP’s direct challenge by acknowledginga that the two major powers are in a “strategic competition and protecting” their “interests appropriately”.

Until now, the US policy towards the People’s Republic of China (PRC), the report said, was “largely premised on a hope that deepening engagement would spur fundamental economic and political opening” in China and make it a “responsible global stakeholder, with a more open society”.

However, after over 40 years, “it has become evident that this approach underestimated the will of the CCP to constrain the scope of economic and political reform”.

Over the past two decades, reforms have slowed, stalled, or reversed, the report said.

“The PRC’s rapid economic development and increased engagement with the world did not lead to convergence with the citizen-centric, free and open order as the US had hoped. The CCP has chosen instead to exploit the free and open rules- based order and attempt to reshape the international system in its favour.”

Beijing openly acknowledges that it seeks to transform the international order to align with CCP interests and ideology, the US said. “The CCP’s expanding use of economic, political, and military power to compel acquiescence from nation states harms vital American interests and undermines the sovereignty and dignity of countries and individuals around the world.”

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Beijing openly acknowledges that it seeks to transform the international order to align with CCP interests and ideology, the US said. Pixabay

The White House pointed out that Beijing in its neighborhood, engages “in provocative and coercive military and paramilitary activities in the Yellow Sea, the East and South China Seas, the Taiwan Strait, and Sino-Indian border areas”.

Just a day ago, US diplomat and acting assistant secretary of state for South and Central Asian affairs, Alice Wells had called out the CCP regime for ratcheting up tensions with India along its borders. Chinese soldiers in the last few months has engaged in several violent faceoffs with Indian soldiers in Arunachal Pradesh, Sikkim and Ladakh over boundary issues.

Announcing its approach, the US report said that it is “working in concert with mutually aligned partnersa”Southeast Asian nations, Japan, India, Australia, Republic of Korea and Taiwan on their outlook on the free, open and secure Indo-Pacific region”.

Guided by a return to principled realism, the report said thatA given the strategic choices China’s leadership is making, “the United States now acknowledges and accepts the relationship with the PRC as the CCP has always framed it internally: one of great power competition”.

The White House made it clear that it is not interested in effecting any change in China’s domestic governance model but at the same time said that it won’t make “concessions to the CCP’s narratives of exceptionalism and victimhood” .

The US policies, the report said, are designed to protect its interests and empower its institutions to withstand the CCP’s malign behaviour and collateral damage from the PRC’s internal governance problems.

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The White House made it clear that it is not interested in effecting any change in China’s domestic governance model. Wikimedia Commons

Accusing the CCP of running propaganda and false narratives, the White House declared that it will continue to challenge Beijing’s attempts at false equivalency between rule-of-law and rule- by-law; counterterrorism and oppression; representative governance and autocracy; and market-based competition and state-directed mercantilism.

The US will not accommodate Beijing’s actions that weaken a free, open, and rules-based international order, the report said, adding that it will continue to refute the CCP’s narrative that the the US is in strategic retreat.

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Using the Cold War terminology, the White House announced that it will work with its robust network of allies and like- minded partners to resist attacks on shared norms and values, within their own governance institutions, around the world, and in international organizations.

The US government said it does not cater to CCP’s demands to create a proper “atmosphere” or “conditions” for dialogue because it sees no value in engaging with Beijing for symbolism and pageantry.

“We instead demand tangible results and constructive outcomes. We acknowledge and respond in kind to Beijing’s transactional approach with timely incentives and costs, or credible threats thereof. When quiet diplomacy proves futile, the United States will increase public pressure on the PRC government and take action to protect United States interests by leveraging proportional costs when necessary,” the report said. (IANS)

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US CFTC Warns About Volatile Crude Oil Contracts

US Futures regulator cautions on volatile crude oil contracts

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CFTC has warned market participants about the negative pricing of crude oil. Pixabay

According to International News, the US Commodity Futures Trading Commission (CFTC) has warned market participants to be prepared that certain commodity contracts may see possibly negative pricing and extreme volatility in the light the negative pricing of crude oil seen last month.

The CFTC has issued an advisory on risk management and market integrity under the current market conditions in the wake of the unusually high volatility and negative pricing experienced in the May 2020 West Texas Intermediate (WTI) light sweet crude oil futures contract on April 20 (the penultimate day of trading and expiration of the contract).

The Commission has emphasised that the subject of this advisory applies equally to trading in other commodities and the registrants should remain vigilant.

The CFTC
The CFTC has issued an advisory on risk management and market integrity under the current market conditions in the wake of the unusually high volatility and negative pricing. Pixabay

The CFTA said that the onset of the Covid 19 pandemic has adversely affected the economies of the US and other major countries.

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Global markets, including those regulated by the CFTC, have been affected by both fundamental and global factors this year as economies and industries have slowed down dramatically or shut down completely, resulting in unprecedented market impacts.

This economic downturn has coincided with substantially increased market volatility in key agricultural, energy and financial sectors, including the futures and options on futures markets regulated by the Commission, it said.

The impact of fundamental and technical factors has been particularly acute for contracts that call for physical delivery of the underlying commodity as demonstrated by the unprecedented price movements in certain commodities, the Commission said. (IANS)