Moonpreneur
Prepare to be astounded by the far-reaching impact of India on a global scale, transcending its physical distance from the United States, located 13,568 km away. Surprisingly, the United States has become a coveted destination for Indians pursuing educational and professional opportunities.
In 2022 alone, an astonishing 1,33,135 Indian students embarked on transformative journeys abroad to pursue their studies, while 320,791 highly skilled professionals secured H-1B visas, enabling them to contribute their expertise in foreign lands.
Only a few know that the Indian-American community is prominent in the United States. Comprising 1 percent of the nation’s total population, Indian Americans contribute substantially to its prosperity by shouldering 6 percent of its tax burden.
These remarkable statistics firmly establish Indian Americans as the second-largest immigrant group in the United States after Mexicans, with their population surpassing a staggering 4.8 million.
Considering the profound influence of the Indian diaspora, Moonpreneur has compared India and America across various dimensions, such as cost of living, Education, and more. By shedding light on these contrasting aspects, we aim to provide invaluable insights for individuals contemplating life choices, educational pursuits, and potential ventures in both countries.
1. Cost of Living
According to the cost of living, India has an average price of possession of $420, making it 81% less expensive than the United States, where the average cost of living is $2213. In the global rankings of the most expensive countries, India is placed at the 191st position, while the United States holds the 5th rank.
| Category | India | US |
|---|---|---|
| Cost of living of 1 person | $420 | $2213 |
| Cost of living of a family | $1017 | $5003 |
| Food Expenses | $160 | $568 |
| Monthly Salary after-tax | $532 | $4223 |
2. IVY League vs IITs in India
Eight colleges are part of the Ivy League, namely Princeton University, Brown University, Columbia University, Cornell University, Dartmouth College, Harvard University, University of Pennsylvania, and Yale University.
In India, there are 23 Indian Institutes of Technology (IITs) that operate under the governance of the Institute of Technology Act 1961.
| Category | India | US |
|---|---|---|
| Acceptance rate | 1% | 5-8% |
| Fees | $1300-$1741 | $76,000-$85,000/year |
| Courses | STEM Focused | STEM+other subjects |
| Admission Criteria | JEE Mains & JEE Advanced | SAT+Holistic performance evaluation throughout high school |
| Financial Aid | Merit-cum-Means Scholarships | Need-based financial aid |
3. Public School in USA vs India
In the United States, government-run schools are referred to as public schools. However, in India, government-run schools are categorized into various types. These categories include Kendriya Vidyalayas, Navodaya Vidyalayas, Sainik Schools, Army Schools, Naval Schools, and Air Force Schools.
| Country | Nominal School Fees | Funding Source |
|---|---|---|
| India | Nominal School Fees | Funded by the Central, State Government |
| USA | Free Education for children from kindergarten through grade 12 in high school | Funded by the city, state or federal government |
4. Literacy Rate
The literacy rate in the United States is comparable to that of India. The National Survey of India released its report on the Literacy Rate of India in 2022, providing valuable insights into its literacy levels.
| Country | Percentage |
|---|---|
| India | 77.7% |
| US | 79% |
5. Engineering graduates
According to Worldometer, the population of the United States is approximately 336.8 million, with an estimated 73.6 million under 18.
On the other hand, the population of India stands at around 1.4076 billion as of 2021, with an estimated 431.054 million under 18.
| Country | Engineering Graduates |
|---|---|
| India | 1.5 M/year |
| US | 0.1M /year |
Considering that India has the second-largest immigrant community in the United States, with a significant number of individuals traveling there for work or study purposes, the parameters for comparison in this study were explicitly based on this demographic.
The United States is the world’s largest national economy and is a prominent leading global trader. Americans contribute over 20 percent of the world’s total income, showcasing their economic prowess. The Congressional Budget Office (CBO) projections indicate a steady rise in the United States GDP over the next decade, from 26.24 trillion U.S. dollars in 2023 to 39.23 trillion U.S. dollars by 2033.
On the other hand, reports are predicting a robust growth of the Indian economy too. According to a report by Ernst & Young (EY), India, a rapidly developing economy, has the potential to surpass Germany and Japan, securing its position as the world’s third-largest economy by 2030. Furthermore, the same report predicts that India’s GDP, regarding market exchange rates, will reach 26 trillion U.S. dollars by 2047-48.
The report also highlights India’s emergence as the third-largest ecosystem for start-ups worldwide. The proliferation of innovative companies in various sectors, particularly technology, is expected to play a crucial role in delivering substantial and sustained growth to the Indian economy, among other sectors.
Economic growth is a clear indicator of prosperity and progress, and we eagerly anticipate a world characterized by sound and robust economies.
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