India-US: The Ties that Bind
There is much that binds India and the US, from famous Indian American contributions to spiritual gurus that made a lasting impact. 'India Global Business' takes stock of some highlights. INDIAN DIASPORA Population
- Indian Americans are the richest ethnic group in the United States with a median household income of $103,821 in 2015.
- The number of students from India studying in the United States grew from 148,360 in March 2015 to 194,438 in March 2016, an increase of 31.1 per cent.
- 82 per cent of students from India pursue degrees in a STEM field
|Year||US to India||India to US|
|Kaushik Basu||Chief Economist and Senior Vice President of the World Bank||Economists|
|Ajaypal Singh Banga||President and chief executive officer of MasterCard||Business and industry|
|Satya Nadella||Chief executive officer (CEO) of Microsoft||Business and industry|
|Shantanu Narayen||CEO of Adobe Systems||Business and industry|
|Indra Nooyi||Chairperson and Chief Executive Officer of PepsiCo||Business and industry|
|Sundar Pichai||Chief Executive Officer (CEO) of Google Inc.||Business and industry|
|Rajeev Suri||CEO of Nokia||Business and industry|
|Nikki Haley||116th Governor of South Carolina||Politics|
|Kuzhikalail M. Abraham||Scientist||Science and technology|
|Siva S. Banda||Aerospace engineer and researcher||Science and technology|
|Sunil Gulati||President of the United States Soccer Federation||Sports|
|Sunita Williams||NASA Astronaut||Science and technology|
|Vijay Seshadri||Pulitzer Prize-winning poet and essayist||Literature|
|Amartya Sen||Professor of Economics and Philosophy at Harvard University||Academics|
- Some lesser-known contributions to US life
- Dungarees From workman′s overalls originally work in dongri near Mumbai
- Blue Jeans Indigo for dying the fabric originally came from India
- Yale University The founder made his fortune in India
|Year||Exports to US||Imports from US|
|Calendar Year||Values (In USD Mn)|
|2016 (Jan to Aug)||1814.47|
- JOBS GENERATED BY INDIAN COS IN THE US
- India-based companies invested $15.3 billion in the US and created 91,000 jobs.
- The top five states in which Indian companies have generated maximum employment are: New Jersey (9.278 jobs), California (8.937 jobs), Texas (6,230 jobs), Illinois (4,779 jobs) and New York (4,134 jobs).
- The top five states in which Indian companies have contributed the highest FDI are: Texas ($3.84 billion), Pennsylvania ($3.56 billion), Minnesota ($1.8 billion), New York ($1.01 billion) and New Jersey ($1 billion).
- The average amount of investment received from Indian companies per state is $443 million.
- 5% of the companies plan to make more investments in the United States.
- 90% of the companies plan to hire more employees locally in the next five years.
- Major pillar of India-US strategic partnership with the signing of 'New Framework for India-US Defense Relations' in 2005.
- The Defence Framework Agreement was updated and renewed for another 10 years in June 2015.
- Bilateral dialogue mechanisms in the field of defence include Defence Policy Group (DPG), Defence Joint Working Group (DJWG), Defence Procurement and Production Group (DPPG), Senior Technology Security Group (STSG), Joint Technical Group (JTG), Military Cooperation Group (MCG), and Service-to-Service Executive Steering Groups (ESGs).
- An Indian Navy ship took part in Rim of the Pacific (RIMPAC) exercise in 2014 for the first time.
- Aggregate worth of defence acquisition from US defence has crossed over $13 billion.
- India and the US have launched a Defence Technology and Trade Initiative (DTTI).
- During President Obama′s visit in January 2015, the two sides agreed to start cooperation on 4 DTTI pathfinder projects and 2 pathfinder initiatives.
- During Defence Minister Manohar Parrikar′s visit to the US in December 2015, the two sides also identified opportunities for bilateral cooperation in production and design of jet engine components.
- Foreign Office Consultations, at the level of Foreign Secretary of India and US Undersecretary for Political Affairs are an important part of the dialogue structure.
- A new High-level Consultation between the Foreign Secretary of India and the US Deputy Secretary of State, and a Policy Planning Dialogue were launched in September 2015.
- Both the sides instituted structured dialogues covering East Asia, Central Asia, West Asia, Africa and the Indian Ocean Region.
- India and the US held trilateral dialogue with Japan and Afghanistan (last meeting held in 2013).
- Matters relating to international security and disarmament, multilateral export control regimes are reviewed under the Strategic Security Dialogue
- Issues relating to high-tech trade are discussed in the India-US High Technology Cooperation Group (HTCG)
- The two sides have agreed to work closely for India's phased entry into the global export control regimes to strengthen global non-proliferation, arms control, as well as nuclear security.