US President Donald Trump has unveiled a new ‘Gold Card’ citizenship plan, allowing US companies to hire Indian graduates from American universities. Trump emphasized that the current immigration system forces highly skilled Indian professionals to leave the US, leading to significant economic losses.
Trump’s Statement on the ‘Gold Card’ Plan
On Wednesday, Donald Trump announced the launch of the ‘Gold Card,’ a new pathway to US citizenship. Under this initiative, wealthy foreign investors who invest $5 million (approximately Rs 37 crore) will have an opportunity to obtain US citizenship. Trump highlighted that this program could greatly benefit Indian students, offering them a way to stay and contribute to the American economy.
Criticizing the existing immigration policies, Trump remarked, “Students from countries like India, China, and Japan enroll in top institutions such as Harvard and the Wharton School of Finance. They receive job offers but lose them due to uncertainty over their ability to remain in the country.”
Impact of Indian Talent Leaving the US
Addressing the repercussions of this issue, Trump acknowledged that many talented graduates compelled to leave America have gone on to establish successful enterprises in their home countries. He noted, “They return to India or other nations, start companies, and become billionaires. These businesses employ thousands of people, resulting in a significant economic setback for the United States.”
Overview of the Gold Card Plan
The ‘Gold Card’ is being positioned as a premium alternative to the existing Green Card system, providing a streamlined route to long-term residency and eventual citizenship. Trump also sees the program as a means to generate substantial revenue for the American economy. He stated, “If we issue 1 million Gold Cards, it would generate $5 trillion (approximately Rs 370 lakh crore), which could be used to reduce national debt.”
This initiative is set to replace the existing EB-5 visa program, which currently requires investors to contribute $1 million (approximately Rs 7.5 crore) and create at least ten jobs. Trump believes the Gold Card will be a transformative policy, stating, “These individuals will be wealthy and successful, invest heavily, pay taxes, and generate employment. We anticipate it will be highly effective.”
