Indian moms rank 3rd in foreign-born babies in US

October 27, 2016

Washington, Oct 27: Indian women rank third after their Mexican and Chinese peers among foreign mothers giving birth to children in the US with Asian immigrants increasingly accounting for a larger share, according to a latest study.

IndianAmong new foreign-born US mothers from the top 10 sending locations, those from India stand out for their low share of births outside marriage (one per cent), high rates of college degree attainment (87 per cent) and high annual family incomes (USD 104,500), the Pew Research Center said yesterday.

At the opposite end of the spectrum, new mothers from Honduras stand out for the high share who are unmarried (66 per cent), lack a high school diploma (51 per cent) and are living in poverty (49 per cent), it said.

"New moms from India stand out on both measures – almost nine-in-ten (87 per cent) have a bachelor's degree, and their annual median incomes top USD 100,000," said the study according to which after rising for decades, the share of US babies born to unmarried women has stabilised in recent years, driven by a sharp decline in births outside of marriage among foreign-born women, and a levelling off among US-born women.

According to the report, as per the latest statistics, in 2014 as many as 901,245 babies were born out of foreign-born mothers. Of these, Mexico accounted for the largest share of 287,052, followed by China (44,829) and India (43,364).

The 287,000 births to Mexican-born women in 2014 outnumbered all births to women from Asia, Europe, North America and Oceania combined.

China and India are the next most common origin countries – babies with mothers from these countries each account for five per cent of births to the foreign born.

It said none of the other countries comes even close to India when it comes to education and financial well off.

"The Indian case is particularly extreme – none of the other top sending countries come close in terms of the share of new moms with a bachelor's degree. Some six-in-ten new mothers from China and about half from the Philippines (52 per cent) have this credential. About a third of new mothers from Vietnam (35 per cent) have a bachelor's degree, while 18 per cent lack a high school diploma," the report said.

In terms of financial well-being, Indian-born new mothers have annual median family income more than twice as high (USD 104,500) as new US-born mothers (USD 51,200).

At the other end of the financial spectrum, just four per cent of Indian-born new mothers are in poverty, compared with 26 per cent of US-born mothers, it added.

New mothers from the Philippines, Vietnam and China are also relatively well-off. Those from the Philippines have annual incomes of about USD 75,000, those from Vietnam have incomes of about USD 70,000, and those from China have incomes of about USD 67,000, the study said.

Poverty rates for new mothers from these countries range from nine per cent to 14 per cent. Further more than nine-in- ten mothers of newborns from the Philippines and India are English-proficient, meaning they speak English "well" or better, it said.

"Just one per cent of new mothers from India are unmarried," the report said, adding that marriage is virtually universal among new mothers from India.

Births outside of marriage are also quite uncommon for new mothers from the other top sending countries in Asia: 11 per cent of new mothers from China are unmarried, as are 18 per cent from Vietnam and 19 per cent from the Philippines. The US average is 42 per cent.

Two-thirds of births to women from Honduras are to unmarried mothers. More than half of births to women from most other Latin American countries also occur outside of marriage, it said.

The exception is among women from Mexico: 47 per cent of births to Mexican immigrants occur outside of marriage, a rate slightly higher than among births to US-born mothers who are unmarried (42 per cent).

Pew said some 23 per cent of new mothers from India are 35 years old or older – far below the shares found among new mothers from the other major Asian sending countries.

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Agencies
July 6,2020

The Covid-19 pandemic has made an unprecedented impact on the Indian businesses, particularly small and medium enterprises (SMEs) and startups. According to a joint survey by FICCI and Indian Angel Network (IAN), the pandemic has hit the businesses of around 70% startups.

With uncertainty in the business environment and an unexpected shift in priorities of the government as well as corporates, many startups are struggling to survive, it says.

In a nationwide survey on the 'Impact of Covid-19 on Indian Startups' involving 250 startups, 70% participants said their businesses had been impacted by Covid-19 and around 12% had shut operations.

The survey shows only 22% startups have cash reserves to meet the fixed cost expenses over the next 3-6 months, and 68% are reducing operational and administrative expenses.

Around 30% of the companies said they would retrench employees if the lockdown was extended too long. The 43% startups have already started 20-40% salary cuts over April-June.

Over 33% startups said investors had put the investment decision on hold and 10% said the deals had been scrapped. Only 8% startups had received funds as per the deals signed before Covid-19 outbreak, the survey revealed.

The reduced funding has forced startups to put a hold on business development and manufacturing activities, which has resulted in loss of projected orders.

The survey highlights the need of an urgent relief package for startups, including possible purchase orders from the government, tax relief and swifter tax refunds, and immediate fiscal support measures, including grants, soft loans and payroll grants.

Besides 250 startups, 61 incubators and investors also participated in the survey.

While 96% of investors accepted that their investments in startups had been impacted by Covid-19, 92% said their investments in startups would continue to be low over the next six months.

Around 59% investors said they would prefer to work with the existing portfolio firms in the coming months. Only 41% said they would consider new deals.

"A comparison of priority investment sectors before and during Covid-19 shows 35% investors are now looking at investments in healthcare startups, followed by EdTech, AI/Deep Tech, FinTech and Agri," said the survey.

Around 44% incubators surveyed said their day-to-day operations had been considerably hit by Covid-19. Most incubators are now supporting their portfolio firms by providing them virtual platforms to interact with mentors, investors and industries.

Dilip Chenoy, FICCI Secretary General, said, "The startup sector is stressed for survival at the moment. The investment sentiment is also subdued and is expected to remain so in the coming months. Lack of working capital and cash flows may lead to major layoffs over the next 3-6 months."

Indian startups needed an enabling ecosystem and flow of funds to continue operations, the survey said.

Padmaja Ruparel, President, Indian Angel Network & Co-Chair of FICCI Startup Committee, said, "In these uncertain times, as investors, we must play an important role to provide the Indian startups funding, mentoring and hand-holding support to stay afloat and come out at the other end of this crisis."

To that end, IAN recently announced a debt fund to help IAN portfolio companies raise working capital and ensure business continuity by partnering with debt providers.

This must be replicated on a wider scale, so a larger number of startups are provided the capital support to make it during these tough times, Ruparel said.

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News Network
March 13,2020

Bengaluru, Mar 13: In the wake of fresh cases of Covid-19 reported in Karnataka, Infosys Foundation chairperson Sudha Murty has urged the Karnataka government to take steps to shut malls and theatres, saying the coronavirus multiplies in air-conditioned areas.

In a letter to the government, she said preventive measures should be taken to control the spread of coronovirus before it gets worse.

Murty, who also leads the State government-constituted Karnataka Tourism Task Force, said she has discussed the current situation with Chairman and Executive Director of Narayana Health, Devi Prasad Shetty.

She suggested closure of all schools and colleges with immediate effect, malls, theatres and “all air-conditioned areas where the virus multiplies”, and allow only essential services like pharmacy, grocery and petrol bunks.

“It is not scientifically proven that the virus dies in high temperature,” she said pointing to spread of the virus -- despite heat -- in peak summer in Australia and Singapore, which have “summer all 12 months”.

“I request you to vacate one government hospital with at least 500 - 700 beds for this purpose (to deal with coronavirus cases), which requires oxygen lines and pipes,” she said.

“Infosys Foundation, the philanthropic and CSR arm of software major Infosys, would do the civil work and Devi Shetty has agreed to share resources like medical equipment,” she added.

“We would like to work with the government proactively so that we can prevent this as early as possible,” Sudha Murty said.

The total number of confirmed coronavirus positive cases in Karnataka is five, including the 76-year old man from Kalaburagi who died on Tuesday night.

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Agencies
March 10,2020

New Delhi, Mar 10: Crisis-hit Yes Bank on Tuesday said that it has enabled inward IMPS and NEFT services.

The move allows people to send money from other bank accounts to their Yes Bank account through IMPS (Immediate Payment Service) and NEFT (National Electronic Funds Transfer) mode.

In a tweet, the bank also said that Yes Bank customers can pay their credit card dues and loan obligations from other bank accounts.

"Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan obligations from other bank accounts. Thank you for your co-operation. @RBIA @FinMinIndia," said tweet.

Last week Yes Bank was placed under moratorium and a withdrawal cap of Rs 50,000 was imposed till April 3.

The administrator of Yes Bank, Prashant Kumar and Rajnish Kumar, the Chairman of the State Bank of India are hopeful that moratorium would be lifted within a week.

As per the Reserve Bank of India (RBI) draft reconstruction scheme for the crisis-hit private lender, the SBI will take up 49 per cent in the bank by investing Rs 2,450 crore.

The new board of directors will stand constituted from the appointed date. It will comprise a CEO and MD, non-executive chairman and non-executive directors. The SBI will have nominee directors appointed on the board of the reconstructed bank.

The RBI may appoint additional directors to the board, who shall continue in office for one year, or until an alternate board is constituted by Yes Bank.

The SBI will not reduce its holding below 26 per cent before completion of three years from the date of infusion of the capital.

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