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Top One Percent: Are Hindus the New Jews in America?

Global crisis forces reverse migration by up to 30 pc: Experts

MUMBAI: With concerns over the global economic situation and reports on growing unemployment, there is a rise in reverse brain drain by up to 30 per cent, according to experts. :-)

"The reverse drain has been seen across the industries and various geographies across the globe, including the US, Canada, Australia and Europe. The number of people wanting to come back to India has gone up by 25-30 per cent as compared to pre-economic crisis," International Management Institute (IMI) Professor Satish K Kalra told PTI.

Global crisis forces reverse migration by up to 30 per cent: Experts - Economic Times
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=> https://economictimes.indiatimes.co...-30-per-cent-experts/articleshow/15363700.cms
 
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Younger CEOs paid more in India than US

MUMBAI: A new breed of younger Indian CEOs is rewriting the rules of the compensation game. In the process, they are topping their American and European peers to stand out as the highest paid executives globally, something which was once the exclusive preserve of executives from companies based outside India.

The average annual salary for an Indian CEO below the age of 50 years now stands at Rs 7.9 crore. Compared with the Rs 7.3 crore that American corner office occupants earn and Rs 7.8 crore pocketed by European bosses, it highlights the rising salaries of younger CEOs, especially in promoter-run firms in India.

Younger Indian CEOs may have stolen a march over their global peers in the salary sweepstakes but overall, Indian CEO salaries are substantially lower than their international counterparts. This was revealed in a study by global recruitment firm Randstad, which was commissioned by TOI to compare the differentials that exist between salaries of Indian CEOs vis-a-vis their western counterparts.

The compensation of Indian CEOs, though growing sharply, is still 45% lower than their American peers and 21 % lower than European CEOs. However, the gap in salaries when compared to European CEOs is shrinking faster, especially in the manufacturing, energy and infrastructure segments, the study points out. Indian CEOs received an average salary of Rs 6.3 crore.

The study is based on conversion of international salaries to Indian rupees by applying a Purchasing Power Parity (PPP) conversion factor of 20.224. This basically means that the exchange rate is adjusted so that identical goods in two different countries have the same price when expressed in the same currency. As a representative sample, Randstad took into consideration companies that form the BSE100 (for India), FT100 (for Europe) and S&P100 (for US) indices as of August 20, 2012. All long-term benefits like stock options were excluded.

"With current levels of inflation, and if India's GDP shows higher growth, the gap between salaries in India will come closer to the levels of the western world. The younger Indian CEOs are compensated better, because there is a higher concentration of promoter CEOs in this group. We can see that in sectors like manufacturing, energy and infrastructure, first-generation promoters are passing on the CEO mantle to their heirs and other family members," says Balaji E, MD & CEO, Randstad India.

However, the trend of promoter CEOs earning more than professional CEOs is not restricted to the younger lot. Across India Inc, promoter CEOs earn 53% higher than professional CEOs, the study revealed.

While professional Indian CEOs still need to catch up with their international peers, the gap in the average salary is highest in the information technology, telecom and communications, finance, retail, media and entertainment sectors, closely followed by the consumer goods industry. In the manufacturing, energy and infrastructure segments, the compensation of Indian CEOs is at par with the European CEOs due to the higher concentration of promoter CEOs in these two segments.

"Today, more and more Indian CEOs get compensated at world-class levels. This trend is driven by several factors. Firstly, it speaks of the professionalization of management and secondly, the most critical constraint to growth is the availability of general managers. It is just pure supply and demand. Finally, professional managers have a considerable set of opportunities to choose from. The broad implication is that, going forward, India cannot become competitive by playing cost arbitrage but has to master the innovation game," says Vijay Govindarajan, professor at Tuck School of Business at Dartmouth College and a part of the celebrated Thinkers 50 group.

Some Indian executives, however, think that the differences in the way salaries are structured for Indian CEOs compared to their western counterparts would continue for a while. "There is a difference between CEO compensation in India as compared to the US and Europe. American CEOs, in particular, and businesses have much greater risks attached to them. The stress that leaders undergo makes them demand far greater compensations whereas in the Indian context, the time lines for performance and the risk factor is much lesser," says Hari T, chief people officer at IT services major Mahindra Satyam.

Indian CEOs from the manufacturing segment earned the highest at Rs 8.7 crore, followed by CEOs from consumer goods with an average salary of Rs 5.6 crore. The other significant point to have emerged from the study is that private sector CEOs are compensated 21 times more than public sector CEOs. With an average salary of Rs 6.3 crore, private sector CEOs are compensated far better than their public sector counterparts, who earn an average compensation of Rs 0.3 crore. The salaries of CEOs of the public sector do not include benefits and perquisites provided to those in the private sector.

Rajeev Chopra, CEO and MD, Philips Electronics India, is more pragmatic and refuses to buy into the euphoria over increasing salaries of Indian CEOs. "Broadly speaking, compensation has always been and will continue to be a function of a myriad factors, such as the prevailing salary structure in the country's job market, the specific industry, the business situation a particular company finds itself in, etc. Therefore, clearly, a 'one size fits all approach' has not worked and may not work in the context of global salaries."

Be that as it may, due to the increasing complexities of Indian businesses, salaries can only go up.

Besides, comparisons would never cease considering salaries remain the biggest point of discussion across management levels in global businesses.

Younger CEOs paid more in India than US - The Times of India
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=> https://timesofindia.indiatimes.com...ore-in-India-than-US/articleshow/16456335.cms
 
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Can't buy a home in Mumbai? Blame the NRIs

mumbai_skyscrapers.295[1].jpg


Mumbai: If you're wondering why the property rates in Mumbai aren't going down, blame it on Non Residential Indians (NRIs). With the rupee falling against the dollar every day, Indians living abroad have increased their investment in the country and especially in Mumbai, meaning that the expected fall in property rates following the recent dry period in the real estate market has not materialised.

According to a real estate source, the real estate prices in Mumbai for a person staying in the Middle East are 25-30 per cent less than what an Indian would pay. Prakash Rohera of Khar-based Kkarma realtors said, "I know about clients from the Middle East and other western countries who were earlier ready to shell out 1 crore but have now hiked it to 1.30 crore. Some don't even mind going as high as up to 1.60 crore. NRIs are investing heavily in Mumbai." :coffee:

"Just a few months ago, builders were chasing clients to buy property, and everyone was expecting the property prices to come down, but the uncontrollable inflation means that most builders are now getting calls from NRIs who want to invest. Why will builders reduce the prices when they are making their share of money anyway?" explained a broker, on condition of anonymity.

Meanwhile, a property exhibition that's being organised in Dubai later this week is already flooded with calls from Indian builders as well as NRIs. A spokesperson for the exhibition said, "The number of builders from Mumbai participating in the exhibition is 15 per cent higher than in earlier years. For NRIs, this is like a sale. The property price has fallen by nearly 25 per cent due to the devaluation of the rupee. We're expecting good business this time."

Manohar Shroff, secretary, Maharashtra Chamber of Housing Industry, Navi Mumbai, also claims the falling rupee is helping to boost the sale of properties in Mumbai. "The increased investment by NRIs has increased sales," he said.

Realty expert Ajay Chaturvedi opines, "There's a slowdown in many western countries, but their currency is still stronger than ours. The falling rupee is making it easy for NRIs to invest here. They all plan to return to India someday, so why not invest in Indian properties," he said.

Can't buy a home in Mumbai? Blame the NRIs
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=> https://www.ndtv.com/mumbai-news/cant-buy-a-home-in-mumbai-blame-the-nris-488545
 
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Gen-next of immigrants in US return home ; India, China to gain from reverse brain drain​

Samir Kapadia seemed to be on the rise in Washington, moving from an internship on Capitol Hill to jobs at a major foundation and a consulting firm. Yet his days, he felt, had become routine.

By contrast, friends and relatives in India, his native country, all in their early-to-mid-20s, were telling him about their lives in that newly surging nation. One was creating an e-commerce business, another a public relations company, still others a magazine, a business incubator and a gossip and events Web site.

"I'd sit there on Facebook and on the phone and hear about them starting all these companies and doing all these dynamic things," recalled Kapadia, 25, who was born in India but grew up in the United States. "And I started feeling that my 9-to-5 wasn't good enough anymore."

Last year, he quit his job and moved to Mumbai.

In growing numbers, highly educated children of immigrants to the US are uprooting themselves and moving to their ancestral countries, experts say. They are embracing homelands that their parents once spurned but that are now economic powers.


Some, like Kapadia, had arrived in the US as young children, becoming citizens, while others were born in the US to immigrant parents.

Enterprising Americans have always sought opportunities abroad. But this new wave underscores the evolving nature of global migration, which is presenting challenges to US supremacy and competitiveness.

In interviews, many of these Americans said they did not know how long they would live abroad; some said it was possible they would remain expatriates for many years, if not for the rest of their lives. Their decisions to leave have, in many cases, troubled their immigrant parents. Yet most said they had been pushed by the dismal hiring climate in the US or pulled by prospects abroad.

"Markets are opening, people are coming up with ideas every day, there's so much opportunity to mold and create," said Kapadia, now a researcher at Gateway House, a new foreign-policy research organisation in Mumbai. "People here are running much faster than those in Washington."

For generations, the world's less-developed countries have suffered brain drain - the flight of many of their best and brightest to the West. That, of course, has not stopped. But now, a reverse flow has begun, particularly to countries like China and India and, to a lesser extent, Brazil and Russia. Some scholars and business leaders contend that this emigration does not necessarily bode ill for the US.

They say young entrepreneurs and highly educated professionals sow American knowledge and skills abroad. At the same time, these workers acquire experience abroad and build networks that they can carry back to the US or elsewhere - a pattern known as "brain circulation."

But the experts caution that in the global race for talent, the return of these expatriates to the US and US companies is no longer a sure bet.

"These are the fleet-footed, they're the ones who in a sense will follow opportunity," said Demetrios G Papademetriou, president of the Migration Policy Institute, a non-profit group in Washington that studies population movements.

"I know there will be people who will argue all about loyalty, etc, etc," Papademetriou said. "I know when you go to war, loyalty matters. But this is a different kind of war that affects all of us."

The US government does not collect data on the emigration of US-born children of immigrants, or on those who were born abroad but moved to the country as young children. But several migration experts said the phenomenon was significant and increasing.

"We've gone way beyond anecdotal evidence," said Edward JW Park, director of the Asian Pacific American Studies Program at Loyola Marymount University in Los Angeles. He pointed out that this migration was spurred by the efforts of some overseas governments to attract more foreign talent by offering employment, investment, tax and visa incentives.

"So it's not just the individuals who are making these decisions," he said. "It's governments who enact strategic policies to facilitate this."

Officials in India said they had seen a sharp increase in the arrival of people of Indian descent in recent years, including at least 100,000 in 2010 alone, said Alwyn Didar Singh, a former senior official at the Ministry of Overseas Indian Affairs. Many of these Americans have been able to leverage family networks, language skills and cultural knowledge gleaned from growing up in immigrant households.

Jonathan Assayag, 29, a Brazilian-American born in Rio de Janeiro and raised in South Florida, returned to Brazil last year. A Harvard Business School graduate, he had been working at an Internet company in Silicon Valley and unsuccessfully trying to develop a business.

"I spent five months spending my weekends at Starbucks, trying to figure out a startup in America," he recalled.

All the while, friends from Harvard urged him to make a change. "They were saying: 'Jon, what are you doing? Go to Brazil and start a business there!"' he said.

Last year, he relocated to Sao Paulo and became an "entrepreneur in residence" at a leading Brazilian venture capital firm. He is now starting an online eyewear business.

"I speak the language, I get the culture, I understand how people do business," he said.

Calvin Chin was a Chinese-American entrepreneur born in Michigan and used to live in San Francisco, where he worked at technology startups and his wife was an interior decorator.

Chin's mother was from China, as were his paternal grandparents. His wife's parents were from Taiwan. They are now in Shanghai, where Chin has started two companies - an online loan service for students and an incubator for technology startups. His wife, Angie Wu, has worked as a columnist and television anchor, and they have two young children.

"The energy here is phenomenal," Chin said.

Reetu Jain, 36, an Indian-American raised in Texas, was inspired to move to India while taking time off from her auditing job to travel abroad. Everywhere she went, she said, she met people returning to their countries of origin and feeling the "creative energy" in the developing world.

She and her husband, Nehal Sanghavi, an Indian-American lawyer, moved to Mumbai in January 2011. But instead of continuing in accounting, she switched professions. Embracing a long-held passion, she now works as a dance instructor and choreographer and has acted in television advertisements and a Bollywood film.

For many of these emigres, the decision to relocate has confounded - and even angered - their immigrant parents. When Jason Lee, who was born in Taiwan and raised in the US, told his parents during college that he wanted to visit Hong Kong, his father refused to pay for the plane ticket.

 
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Reverse brain drain​

Reverse brain drain is a form of brain drain where human capital moves in reverse from a more developed country to a less developed country that is developing rapidly. These migrants may accumulate savings, also known as remittances, and develop skills overseas that can be used in their home country.[1]

Brain drain can occur when scientists, engineers, or other intellectual elites migrate to a more developed country to learn in its universities, perform research, or gain working experience in areas where education and employment opportunities are limited in their home country. These professionals then return to their home country after several years of experience to start a related business, teach in a university, or work for a multi-national in their home country.[2] Their return is this "Reverse Brain Drain".

The occurrence of reverse brain drain mostly depends on the state of the country's development, and also strategies and planning over a long period of time to reverse the migration. Countries that are attractive to returning intelligentsia will naturally develop migration policies to attract foreign academics, professionals and executives.[3][4] This would also require these countries to develop an environment which will provide rewarding opportunities for those who have attained the knowledge and skills from overseas.[5]

In the past, many of the immigrants from developing countries chose to work and live permanently in developed countries; however, the recent economic growth that has been occurring back in their home countries—and the difficulty of attaining long-term work visas—has caused many of the immigrants to return home.[6]

Definition[edit]​

The term ‘reverse brain drain' is closely tied with brain drain and brain gain because reverse brain drain is a migratory phenomenon that results due to the brain drain of the intellectual elites from developing countries and is the mirror image of the benefit of an inflow of high quality human resources which is brain gain.[7]

Reverse brain drain is sometimes related to the term ‘brain circulation', which is when migrants return to their own country on a regular or occasional basis, sharing the benefits of the skills and resources they have acquired while living and working abroad.[8] An example of the benefits for the host countries, especially developing countries, are the payments of remittances. This provides a reason for governments to issue new legislation and tax rules that encourage outward migration and remittances.[9]: 134 

However, "brain circulation" is known as the extended definition of brain gain with an emphasis on human capital circulation across nations in the global market, benefiting both the sending and receiving nations; in addition it is considered a two-way flow of skill, capital, and technology, unlike brain drain and reverse brain drain.[10]

 
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Bangalore hires more NRIs than other cities: Study​


BANGALORE: Among Indian cities, Bangalore hires the highest proportion of NRI professionals.

In the January-March 2012 quarter, NRI professionals were 29% of the total number of lateral hires (people with more than three years of experience ) in Bangalore. In Delhi /NCR, this was 27%, in Mumbai 26%, in Hyderabad 18% and in Chennai and Kolkata 16% each, says a study by MyHiringClub, a global recruitment tendering platform. "Overall hiring activity was not good in the final quarter of the last financial year, but the quantum of NRI hiring has gone up. IT, pharma and healthcare companies prefer to hire candidates with international exposure,'' says Rajesh Kumar, CEO of MyHiringClub. Many of these are companies that are expanding globally and therefore need to understand global practices and market specificities , which NRIs do.

The study finds that NRI professionals accounted for 21% of total lateral hiring in India during the quarter, a 5 percentage point increase over the previous quarter's 16%. The IT &ITES sector has seen the maximum number of NRI hiring at 23%. Pharma and healthcare accounted for 21%, FMCG 18% and infrastructure 11%. Bangalore has long been the preferred choice for NRIs. Third party hirers say 7 out of 10 candidates who want to relocate to India ask for vacancies in Bangalore. "If candidates do not have specific compulsions, based on factors like ageing parents, spouse located elsewhere, bought a home in a different city, children' s school admissions etc, most of them prefer Bangalore,'' says B S Murthy, CEO of executive search firm LeadershipCapital .

Ajay Dutt, business head at Aim Plus Staffing, says Bangalore is the top priority destination for a majority of returning professionals. "The job opportunities are the highest here. Also, 60% of NRIs who are looking to return are techies and being in Bangalore gives them an edge,'' he says. Kris Lakshmikanth, CEO of HeadHunters, say that in most cases, the NRI preference is for city close to their hometown and for Bangalore.

"Bangalore often becomes the only choice for candidates who have their origins in Kolkata, Bhubaneshwar, Lucknow etc. It's got great weather, it's neutral, relatively more safe to live and work and it's cosmopolitan,'' he says. India Inc is expected to hire around 35,000 "home-coming'' Indians during fiscal 2013. Some 946 employers from 11 industry segments across six cities participated in the MyHiring Club study.

 
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NRI grooms no longer in demand

The charm of the NRI groom is fading in the marriage market as overseas economies continue to be unstable. :coffee:

Indian brides, it seems, are paying attention to what the song, "Pardesiyon Se Naa Ankhiyaan Milana", preaches. Girls from NRI families too, are humming "Yeh Mera India". It's India shining for both when it comes to seeking life partners, as Indian and NRI girls want matches in India. Now, while 50% of Indians as well as NRIs discreetly mention in their wedding profiles on matchmaking portals that they are not interested in an NRI match, the remaining 50% don't put 'NRI' as even one of the options in the preferences.

Gourav Rakshit from a wedding portal says, "During recession in 2008 and 2009, 60% of the people registering on our portal mentioned 'no NRI grooms'. In 2011, after America was stripped of its AAA rating and many NRIs returned home looking for jobs, this year too, 50% have mentioned they don't want NRI grooms." Rakshit adds that things have gotten worse as even NRI girls are now looking for India-based grooms. "Many NRI families seeking a match for their daughters too have mentioned they don't want an NRI groom," he says.

Faced with declining salaries and job cuts, an increasing number of NRIs is moving to India. The Doshi family in New Jersey is one such. Their daughter, Hetal, who is married to an IT professional, recently shifted to India after her husband lost his job. Her parents have now decided to look for an Indian groom for their younger daughter, Shikha. Her father, Jigen Doshi, told us, "Many NRIs are shifting to India. Western economies are unstable."

Murugavel Janakiraman, founder and CEO of another wedding portal, says, "With the Indian economy booming, Indian grooms are looking as attractive as the NRI ones. Indian brides are realising that professionals in India are as smart, qualified and well-paid as their NRI counterparts."

Says Anushree Pal, who is looking for a groom for her 26-year-old daughter, "After 9/11 and other terror attacks around the world, there have been so many reports where Indians have not been treated well. I don't want that to be the case with my daughter. Also, we have everything here now - from top brands to supermarkets. My daughter will have it all, so why go for an NRI?"

For research analyst Preeti Vats*, 26, India is where the heart is. "Given the recession that's hit the foreign market, my parents haven't looked for a match outside India. India is progressing at an amazing rate - we have everything here, including our families." Says Suggandha Mehrotra, 26, 'I would rather marry a desi because they are a safer bet. There are fewer chances of them being handed the pink slip."

//timesofindia.indiatimes.com/life-style/relationships/man-woman/NRI-grooms-no-longer-in-demand/articleshow/10726123.cms?referral=PM

 
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Reverse brain drain​

Reverse brain drain is a form of brain drain where human capital moves in reverse from a more developed country to a less developed country that is developing rapidly. These migrants may accumulate savings, also known as remittances, and develop skills overseas that can be used in their home country.[1]

Brain drain can occur when scientists, engineers, or other intellectual elites migrate to a more developed country to learn in its universities, perform research, or gain working experience in areas where education and employment opportunities are limited in their home country. These professionals then return to their home country after several years of experience to start a related business, teach in a university, or work for a multi-national in their home country.[2] Their return is this "Reverse Brain Drain".

The occurrence of reverse brain drain mostly depends on the state of the country's development, and also strategies and planning over a long period of time to reverse the migration. Countries that are attractive to returning intelligentsia will naturally develop migration policies to attract foreign academics, professionals and executives.[3][4] This would also require these countries to develop an environment which will provide rewarding opportunities for those who have attained the knowledge and skills from overseas.[5]

In the past, many of the immigrants from developing countries chose to work and live permanently in developed countries; however, the recent economic growth that has been occurring back in their home countries—and the difficulty of attaining long-term work visas—has caused many of the immigrants to return home.[6]

Definition[edit]​

The term ‘reverse brain drain' is closely tied with brain drain and brain gain because reverse brain drain is a migratory phenomenon that results due to the brain drain of the intellectual elites from developing countries and is the mirror image of the benefit of an inflow of high quality human resources which is brain gain.[7]

Reverse brain drain is sometimes related to the term ‘brain circulation', which is when migrants return to their own country on a regular or occasional basis, sharing the benefits of the skills and resources they have acquired while living and working abroad.[8] An example of the benefits for the host countries, especially developing countries, are the payments of remittances. This provides a reason for governments to issue new legislation and tax rules that encourage outward migration and remittances.[9]: 134

However, "brain circulation" is known as the extended definition of brain gain with an emphasis on human capital circulation across nations in the global market, benefiting both the sending and receiving nations; in addition it is considered a two-way flow of skill, capital, and technology, unlike brain drain and reverse brain drain.[10]

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Court Sentences Spy Who Sold Stealth Bomber Secrets to China
Jason Mick (Blog) - January 26, 2011

Mr. Gowadia helped designed the stealth and propulsion systems of the B-2 bomber , while at Northrop Grumman. But in 1999 he found a consulting firm and began selling his secrets to foreign nations, including China. :coffee:

18425 bombers b2 0004

The Cold War may be over, but the art of spying is far from dead. If the recent case of Anna Chapman -- a Russian vixen turned super-spy -- wasn't reminder enough, we have the case of Noshir Gowadia, a convicted Hawaiian-based spy who sold U.S. Air Force secrets to China.

I. From Top Engineer to Dangerous Spy

This man, now 66 years old, was born in India but immigrated to the U.S., starting a new life as a professional engineer. At his new work he gained access to some our nation's most valuable secrets. The man in fact designed those secrets while working with top military contractor Northrop Grumman.

Mr. Gowadia, billed himself as "father of the technology that protects the B-2 stealth bomber from heat-seeking missiles" . He was among the principle design engineers working on the B-2's propulsion system during his career with Northrop that lasted from 1968 to 1986. :-)

In the late 1990s, he struck out on his own, founding a consulting firm in 1999 dubbed "Gowadia, Inc."

Over the next five years he reportedly proceeded to try to sell foreign operatives our nation's stealth secrets, some of which he concocted. He sent information to operatives from Germany, Israel, and Switzerland.

And his biggest transaction was his transmission of a wealth of data to the People's Republic of China. That transaction allowed China to jump-start its stealth aerospace efforts and design a stealth missile. It also netted Mr. Gowadia $110,000 USD, which he used pay off his mortgage on a luxury home on the island of Maui. :turkey:

But that gain would result in a far greater loss, the loss of his freedom.

II. The Arrest

In 2005, Mr. Gowdia was arrested after the CIA and FBI analyzed his communications. Federal authorities raided Mr. Gowdia's penthouse only to discover documents showing his communication of state secrets to eight separate nations. Mr Gowdia admitted to sending the classified information, but said he only did so to "to establish the technological credibility with the potential customers for future business."

The U.S. government clearly didn't buy that excuse. They charged Mr. Gowdia with 18 counts, including espionage charges, charges about the transmission of classified documents to a foreign state, charges stemming from his role in designing Chinese stealth missiles, and money laundering charges.

The trial dragged on through 2007 as Mr. Gowdia's defense team insisted they needed access to classified materials in order to give a proper defense. Once they obtained those materials after a thorough security screening, the trial was further delayed, as the defense claimed Mr. Gowdia was suffering from narcissistic personality disorder. The defense brought in Richard Rogers, a forensic psychology professor at the University of North Texas, and Dr. Pablo Stewart, a psychiatry professor at the University of California, San Francisco to testify about Mr. Gowdia's supposed condition.

On November 20, 2009, a federal magistrate ruled that the experts' testimony was not credible. U.S. Magistrate Kevin S.C. Chang wrote that just because the defendant couldn't communicate well with his defense team didn't mean he was incompetent and unable to stand trial, as the defense claimed.

III. The Sentence

After a three-month jury trial, Mr. Gowdia was finally found guilty of 14 out of 17 charges, with a verdict arriving August 9, 2010. Sentencing was delayed until this week. While Mr. Gowdia faced up to a life sentence in prison, he was sentenced to a slightly lesser sentence of 32 years in federal prison.

Assistant US Attorney Ken Sorenson who prosecuted the case told the Associated Press that he was "a little disappointed" with the sentence. "But 32 years is stiff and in many ways an appropriate sentence for him. We're confident the message is sent that when you compromise US national security, when you disclose national defense secrets, when you profit by US national defense information, that you will be punished, you will be pursued, you will be convicted," Sorenson continued.

If he lives long enough, he may eventually see parole, but Mr. Gowdia likely will spend most of the remainder of his life behind bars.

His family claims that he is innocent and is fighting to appeal the decision. States his son, Ashton, to the Associated Press, "My father would never, ever do anything to intentionally to hurt this country. We hope the convictions will be overturned and he'll be able to go home."

In a similar case, an elderly Chinese spy working at Boeing was recently sentenced to 15 years behind bars.

dailytech.com/Court+Sentences+Spy+Who+Sold+Stealth+Bomber+Secret s+to+China/article20755.htm
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=> https://www.nbcnews.com/id/wbna41249426
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=> https://www.bbc.com/news/world-asia-pacific-12272941
 
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Can't buy a home in Mumbai? Blame the NRIs

View attachment 1014731

Mumbai: If you're wondering why the property rates in Mumbai aren't going down, blame it on Non Residential Indians (NRIs). With the rupee falling against the dollar every day, Indians living abroad have increased their investment in the country and especially in Mumbai, meaning that the expected fall in property rates following the recent dry period in the real estate market has not materialised.

According to a real estate source, the real estate prices in Mumbai for a person staying in the Middle East are 25-30 per cent less than what an Indian would pay. Prakash Rohera of Khar-based Kkarma realtors said, "I know about clients from the Middle East and other western countries who were earlier ready to shell out 1 crore but have now hiked it to 1.30 crore. Some don't even mind going as high as up to 1.60 crore. NRIs are investing heavily in Mumbai." :coffee:

"Just a few months ago, builders were chasing clients to buy property, and everyone was expecting the property prices to come down, but the uncontrollable inflation means that most builders are now getting calls from NRIs who want to invest. Why will builders reduce the prices when they are making their share of money anyway?" explained a broker, on condition of anonymity.

Meanwhile, a property exhibition that's being organised in Dubai later this week is already flooded with calls from Indian builders as well as NRIs. A spokesperson for the exhibition said, "The number of builders from Mumbai participating in the exhibition is 15 per cent higher than in earlier years. For NRIs, this is like a sale. The property price has fallen by nearly 25 per cent due to the devaluation of the rupee. We're expecting good business this time."

Manohar Shroff, secretary, Maharashtra Chamber of Housing Industry, Navi Mumbai, also claims the falling rupee is helping to boost the sale of properties in Mumbai. "The increased investment by NRIs has increased sales," he said.

Realty expert Ajay Chaturvedi opines, "There's a slowdown in many western countries, but their currency is still stronger than ours. The falling rupee is making it easy for NRIs to invest here. They all plan to return to India someday, so why not invest in Indian properties," he said.

Can't buy a home in Mumbai? Blame the NRIs
.
=> https://www.ndtv.com/mumbai-news/cant-buy-a-home-in-mumbai-blame-the-nris-488545
 
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NRI grooms no longer in demand

The charm of the NRI groom is fading in the marriage market as overseas economies continue to be unstable. :coffee:

Indian brides, it seems, are paying attention to what the song, "Pardesiyon Se Naa Ankhiyaan Milana", preaches. Girls from NRI families too, are humming "Yeh Mera India". It's India shining for both when it comes to seeking life partners, as Indian and NRI girls want matches in India. Now, while 50% of Indians as well as NRIs discreetly mention in their wedding profiles on matchmaking portals that they are not interested in an NRI match, the remaining 50% don't put 'NRI' as even one of the options in the preferences.

Gourav Rakshit from a wedding portal says, "During recession in 2008 and 2009, 60% of the people registering on our portal mentioned 'no NRI grooms'. In 2011, after America was stripped of its AAA rating and many NRIs returned home looking for jobs, this year too, 50% have mentioned they don't want NRI grooms." Rakshit adds that things have gotten worse as even NRI girls are now looking for India-based grooms. "Many NRI families seeking a match for their daughters too have mentioned they don't want an NRI groom," he says.

Faced with declining salaries and job cuts, an increasing number of NRIs is moving to India. The Doshi family in New Jersey is one such. Their daughter, Hetal, who is married to an IT professional, recently shifted to India after her husband lost his job. Her parents have now decided to look for an Indian groom for their younger daughter, Shikha. Her father, Jigen Doshi, told us, "Many NRIs are shifting to India. Western economies are unstable."

Murugavel Janakiraman, founder and CEO of another wedding portal, says, "With the Indian economy booming, Indian grooms are looking as attractive as the NRI ones. Indian brides are realising that professionals in India are as smart, qualified and well-paid as their NRI counterparts."

Says Anushree Pal, who is looking for a groom for her 26-year-old daughter, "After 9/11 and other terror attacks around the world, there have been so many reports where Indians have not been treated well. I don't want that to be the case with my daughter. Also, we have everything here now - from top brands to supermarkets. My daughter will have it all, so why go for an NRI?"

For research analyst Preeti Vats*, 26, India is where the heart is. "Given the recession that's hit the foreign market, my parents haven't looked for a match outside India. India is progressing at an amazing rate - we have everything here, including our families." Says Suggandha Mehrotra, 26, 'I would rather marry a desi because they are a safer bet. There are fewer chances of them being handed the pink slip."

//timesofindia.indiatimes.com/life-style/relationships/man-woman/NRI-grooms-no-longer-in-demand/articleshow/10726123.cms?referral=PM

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Asian Americans[edit]​

In the 2021 American Community Survey, the following figures regarding detailed Asian ethnicities are reported.[3]

S0201: ACS 1-Year Estimates Selected Population Profiles (2021)

Detailed RaceAloneAlone or in Combination with Other Races
CodePopulationMedian household income (US$)CodePopulationMedian household income (US$)
Indian
013​
4,402,223
141,906
032​
4,797,210​
138,418​
Taiwanese
018​
257,430​
119,022​
037​
310,503​
117,652​
Filipino
019​
2,960,811​
101,157​
038​
4,426,904​
96,883​
Pakistani
026​
555,917​
100,730
045​
629,946​
95,747​
Sri Lankan
027​
72,271​
96,790​
046​
86,690​
94,034​
Chinese
017​
4,360,466 :-)
93,007
036​
5,549,293​
93,431​
Japanese
022​
742,549​
87,789​
041​
1,636,634​
90,566​
Indonesian
021​
85,957​
87,377​
040​
161,807​
86,751​
Korean
023​
1,445,315​
82,946​
042​
1,962,184​
83,354​
Hmong
020​
345,338​
80,702​
039​
368,609​
80,175​
Thai
028​
180,364​
78,616​
047​
319,617​
78,434​
Nepalese
076​
217,150​
78,375​
084​
229,325​
78,043​
Vietnamese
029​
1,896,690​
77,884​
048​
2,288,082​
78,845​
Laotian
024​
181,458​
75,241​
043​
248,920​
76,962​
Cambodian
015​
272,408​
73,819​
034​
369,562​
75,424​
Bangladeshi
014​
245,131​
67,187​
033​
261,885​
66,641​
Burmese
073​
233,347​
60,376​
081​
248,822​
62,352​

.​

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America’s Wealthiest Religions?

osted by Sundari in General, USA on 02 25th, 2010 | 14 responses
An interesting infographic circulating the Web has many people talking about the relationship between wealth and religion. The graphic, titled The Almighty Dollar, was created by GOOD and Column Five Media and breaks down income levels in the U.S. by religion. Data is based on information from the Pew Forum and it compares the income level of each religion to the national average. From the website: It’s no secret that the distribution of wealth is inequitable in the United States across racial, regional, and socio-economic groups. But there is a distinct variance among and within America’s faiths as well.

header_GOOD_ALMIGHTY_DOLLAR_R3.jpg


If you click on the image above, it will enlarge and you’ll see information broken down by several religious groups such as Jewish, Christian (divided into several groups), Buddhist, Mormon, Muslim etc. You’ll notice that Sikhism is not one of them (not sure why?). There are five income brackets (Less than $30,000 to $100,000+) listed and numbers signifying what percentage of each religious group falling into which income bracket.

43% and 46% of Hindus and Jews, respectively, fell into the $100,000+ income bracket while 8% and 9% of Christians (Historically Black Churches) and Jehovah’s Witnesses, respectively, fell into this same income bracket. Interestingly, Buddhists look to have the most equal distribution for each income bracket.

Many conversations on the internet have focused on the idea that immigrants make up a large portion of religious groups such as Hindus and Muslims. This is probably quite true. Individuals from these groups who are in the United States today, are probably more educated. The representation of these groups in this data sample is highly selective. Wealth is therefore probably more related to education rather than religion.

Other conversations suggest that those religious groups who have the lowest percentage in the $100,000+ also give the most money to their place of worship.

Having said that, what religious group’s distribution would Sikhs most likely follow? How would those individuals, who identify as Sikhs, be represented on this infographic?

America’s Wealthiest Religions? | The Langar Hall
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Hindu Americans have surpassed Jewish Americans in education and rival them in household incomes. How did immigrants from India, one of the world's poorest countries, join the ranks of the richest people in the United States? How did such a small minority of just 1% become so disproportionately represented in the highest income occupations ranging from top corporate executives and technology entrepreneurs to doctors, lawyers and investment bankers? Indian-American Professor Devesh Kapur, co-author of The Other One Percent: Indians in America, explains it in terms of educational achievement. He says that an Indian-American is at least 9 times more educated than an individual in India. He attributes it to what he calls a process of "triple selection".

Hindu American Household Income:

A 2016 Pew study reported that more than a third of Hindus (36%) and four-in-ten Jews (44%) live in households with incomes of at least $100,000. More recently, the US Census data shows that the median household income of Indian-Americans, vast majority of whom are Hindus, has reached $127,000, the highest among all ethnic groups in America.

Median income of Pakistani-American households is $87.51K, below $97.3K for Asian-Americans but significantly higher than $65.71K for overall population. Median income for Indian-American households $126.7K, the highest in the nation.


Hindu Americans Education:

Indian-Americans, vast majority of whom are Hindu, have the highest educational achievement among the religions in America. More than three-quarters (76%) of them have at least a bachelors's degree.

By comparison, sixty percent of Pakistani-Americans have at least a bachelor's degree, the second highest percentage among. The average for Asian-Americans with at least a bachelor's degree is 56%.

American Hindus are the most highly educated with 96% of them having college degrees, according to Pew Research. 75% of Jews and 54% of American Muslims have college degrees versus the US national average of 39% for all Americans. American Christians trail all other groups with just 36% of them having college degrees. 96% of Hindus and 80% of Muslims in the U.S. are either immigrants or the children of immigrants.





Jews are the second-best educated in America with 59% of them having college degrees. Then come Buddhists (47%), Muslims (39%) and Christians (25%).

Triple Selection:

Devesh Kapur, a professor of political science at the University of Pennsylvania and co-author of The Other One Percent: Indians in America (Oxford University Press, 2017), explains the phenomenon of high-achieving Indian-Americans as follows: “What we learned in researching this book is that Indians in America did not resemble any other population anywhere; not the Indian population in India, nor the native population in the United States, nor any other immigrant group from any other nation.”

Devesh talks about what he calls “a triple selection” process that gave Indian-Americans a boost over typically poor and uneducated immigrants who come to the United States from other countries. The first two selections took place in India. As explained in the book: “The social system created a small pool of persons to receive higher education, who were urban, educated, and from high/dominant castes.” India’s examination system then selected individuals for specialized training in technical fields that also happened to be in demand in the United States. Kapur estimated that the India-American population is nine times more educated than individuals in the home country.

Summary:

Hindu Americans rival Jewish Americans in educational achievement and household incomes. Hindus in America have joined the ranks of the richest people in the United States. They account for just 1% of the US population but they are disproportionately represented in the highest income occupations ranging from top corporate executives and technology entrepreneurs to doctors, lawyers and investment bankers. Indian-American Professor Devesh Kapur, co-author of The Other One Percent: Indians in America, explains it in terms of their educational achievement. He says that an Indian-American is at least 9 times more educated than an individual in India. He attributes it to what he calls a process of "triple selection".
Related Links:

Haq's Musings
South Asia Investor Review

Hindus and Muslim Well-educated in America But Least Educated Worldwide

What's Driving Islamophobia in America?

Pakistani-Americans Largest Foreign-Born Muslim Group in Silicon Valley

The Trump Phenomenon

Islamophobia in America

Silicon Valley Pakistani-Americans

Pakistani-American Leads Silicon Valley's Top Incubator

Silicon Valley Pakistanis Enabling 2nd Machine Revolution

Karachi-born Triple Oscar Winning Graphics Artist

Pakistani-American Ashar Aziz's Fire-eye Goes Public

Two Pakistani-American Silicon Valley Techs Among Top 5 VC Deals

Pakistani-American's Game-Changing Vision

Minorities Are Majority in Silicon Valley
Riaz Haq's Youtube Channel

PakAlumni: Pakistani Social Network


 
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