The Indian diaspora in the United States has reached a milestone of over 5 million people as of 2023, marking a substantial increase from 1.9 million in 2000. This growing community plays an essential role in strengthening bilateral relations between the United States and India, fostering ties in areas such as trade, cultural exchange, and innovation. During a U.S. State Department event, Deputy Secretary Richard R. Verma highlighted the significant contributions of Indian-Americans, including their growing presence in senior roles within the government. Notably, 130 Indian-Americans were appointed by the Biden-Harris administration.
A significant factor in the success of this diaspora is the entrepreneurial spirit it has cultivated. Around 20% of unicorn startups in the U.S. are founded or co-founded by Indian-Americans. Moreover, academic collaborations between India and the U.S. have flourished, with nearly 300 exchange programs connecting top universities in both countries. This exchange nurtures innovation and research opportunities, while also reinforcing the cultural bridge between the two nations.
The trade relationship between the U.S. and India has also seen exponential growth, with bilateral trade reaching $195 billion in 2023. This is expected to surpass $200 billion in 2024. The defense trade, which was nonexistent in 2000, has now reached $24 billion, making India the top military partner of the U.S. in 2024. Joint military exercises such as Malabar, Yudh Abhyas, and Cope India highlight the robust military cooperation between the two countries.
In addition, the number of Indian students in the U.S. has grown significantly, enriching the academic environment while promoting cultural understanding. In 2023, over 331,000 Indian students were enrolled in U.S. institutions, up from 54,664 in 2000.
The increasing diplomatic engagement is also reflected in the expansion of U.S. consulates in India and the issuance of over a million visas in 2023, facilitating easier travel and strengthening the people-to-people connections between the two nations.