The Indian diaspora in the United States has experienced remarkable growth, exceeding five million individuals in 2023. This marks a significant increase from 1.9 million in 2000. The thriving community has become a vital component of the deepening relationship between the US and India, playing an essential role in fostering bilateral trade, cultural exchange, and innovation.
This data was highlighted during an event held at the US State Department, where Deputy Secretary of State Richard R. Verma underscored the crucial contributions of Indian-Americans. During the event, Verma pointed out that the Biden-Harris Administration has appointed 130 Indian-Americans to senior roles, further solidifying their influence in American governance.
The entrepreneurial spirit of the Indian diaspora is another notable aspect of its impact. Approximately 20% of unicorn startups in the US—privately held companies valued at over $1 billion—have Indian migrants as founders or co-founders.
The flourishing partnership between the two nations extends into academia. Nearly 300 exchange programs connect leading Indian colleges with 205 top US universities. These collaborations promote innovation and open doors for groundbreaking research and development initiatives.
Verma, who previously served as the US Ambassador to India, also highlighted the broad spectrum of the partnership between the two countries. It spans trade, defense, education, and cultural exchange. He revealed that bilateral trade between the US and India has surged from $20 billion in 2000 to an impressive $195 billion in 2023.
“Two-way trade in 2024 is expected to cross $200 billion,” Verma stated, emphasizing the growing economic ties.
The defense sector has also witnessed exponential growth. In 2000, defense trade between the two countries was nonexistent. However, by 2023, it had reached $24 billion. Verma added, “India is the top military partner of the US [2024].” He further highlighted joint military exercises that demonstrate the strength of the relationship, such as Malabar (naval), Yudh Abhyas (Army), Cope India (Air Force), Vajra Prahar (counter-terrorism), and Tiger Triumph (amphibious operations).
Education has been another crucial area of collaboration. The number of Indian students in the US has grown significantly, from 54,664 in 2000 to 331,600 in 2023. These students not only enrich the academic landscape in the US but also build bridges of understanding between the two nations.
Consular developments reflect the strengthening ties as well. In 2023, the US Mission in India issued over one million visas. Diplomatic footprints are also expanding, with new consulates planned in Boston, Los Angeles, Bengaluru, and Ahmedabad. These initiatives aim to facilitate further engagement and connectivity between the two countries.
Verma expressed his appreciation for the enduring cooperation between the US and India on X (formerly Twitter). He also acknowledged the presence of Indian Ambassador to the US, Vinay Kwatra, at the event, praising his contributions to this dynamic partnership.
This growing relationship underscores the significance of the Indian diaspora in shaping the future of US-India ties and fostering collaboration across various sectors.
