Deputy Secretary of State for Management and Resources, Richard Verma has highlighted significant milestones in U.S.-India relations, noting the appointment of a record 130 Indian Americans to senior positions in the Biden-Harris Administration and predicting that two-way trade between the two nations will surpass $200 billion in 2024.

On December 23, 2024, Verma welcomed Indian Ambassador to the U.S., Vinay Kwatra, along with other key stakeholders, to the State Department to discuss critical developments in consular, economic, trade, defense, and diaspora relations between the two countries.

Celebrating the progress in areas like trade, defense, and people-to-people ties, Verma stated, “The numbers speak for themselves” when evaluating U.S.-India relations.

“From day one, the Biden-Harris Administration has been deeply invested in this relationship: now stronger than ever. I look forward to seeing this partnership grow for decades to come,” Verma added.

Verma said the defense trade between reached from $0 in 2000 to $24 billion in 2023, Indian Students in the U.S. were 54,664 in 2000 to 331,600 2023, and the diaspora population in the U.S. reached from 1.9 million in 2000 to over 5 million 2023. 

Verma cited notable statistics showcasing the growth of U.S.-India collaboration:

• Defense trade, which was $0 in 2000, reached $24 billion by 2023.
• The number of Indian students in the U.S. increased from 54,664 in 2000 to 331,600 in 2023.
• The Indian diaspora population in the U.S. grew from 1.9 million in 2000 to over 5 million in 2023.

He further highlighted the issuance of over 1 million U.S. visas in India in 2023 and announced plans for new Indian consulates in Boston and Los Angeles, along with new U.S. consulates in Bengaluru and Ahmedabad.

On the economic front, Verma emphasized that the U.S. was the largest source of remittances to India in 2023. He also noted that 20 per cent of U.S. unicorns have Indian-origin founders or co-founders, with bilateral trade growing from $20 billion in 2000 to $195 billion in 2023. 

India has also emerged as the top military exercise partner of the U.S. in 2024, with both nations conducting joint exercises across naval, army, air force, and counter-terrorism domains.

Additionally, Verma underscored the robust academic ties between the two nations, with nearly 300 exchange programs connecting 37 of India’s top 50 colleges with 205 U.S. universities.

Verma also welcomed India’s Foreign Secretary Vikram Misri, Ambassador Kwatra back to the State Department alongside Deputy Secretary of State Kurt Campbell, to discuss the ongoing US-India ties “rooted in mutual trust, shared values, and prosperity for all.”

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