Wall Street’s Indian elite form a club of giving – MarketWatch

Wall Street’s Indian elite form a club of giving – MarketWatch.

This willingness to donate money to charity is not common among Indian elites in their home country. Many community leaders have criticized elites for not making contributions to causes beyond religious organizations, such as temples or mosques. Americans were the most generous in the world in 2013, according to the World Giving Index, which tracks contributions of money or time to charitable causes. Indians were No. 93 on the list.

But now Indian-Americans, who first began immigrating to the U.S. in greater numbers in the 1960s, are feeling more financially secure. Indian-Americans make up less than 1% of the American population but have the highest household income of all ethnic groups in the U.S., according to the 2010 census.

They’ve also become a bigger presence on Wall Street, where companies expect employees to be engaged in their community, said Sheila Hooda, chief executive of Alpha Advisory Partners, an advisory firm on Wall Street, and a Pratham board member.

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