Today, the U.S is India’s largest trade partner, with close to $150 billion in two-way trade between the democracies. More than two decades ago, it was just $11 billion. Indo-US defence trade, on the other hand, has risen from close to zero in 2008 to $18 billion today with an array of strategic agreements signed & greater convergence of strategic interests realised than during any other point in their otherwise contentious history. Further, U.S investments add up to around $28 billion in India along with the slew of American firms that hire India’s technical workforce. Even Indian firms have invested around $18 billion to go with its much-celebrated IT outsourcing services. On the cultural front, Indian-Americans now make up the largest PIO community anywhere in the world with estimates showing around 4 million live in the U.S at present. Additionally, the diaspora community is also one of the wealthiest sub-groups by income, a testament both to their relative success and the hallowed tenet of the American Dream.
Exploring these three pillars – of politics, business and diaspora- this episode seeks to understand the changes and continuities in Indo-US relations over the years, especially with the next U.S Presidential elections just round the corner and what it portends for the relationship between the two countries in the coming years. This makes the India-U.S relationship, certainly, one for the ages.
In this episode, we are joined by Arun M Kumar, Chairman and CEO, KPMG India; Sanjeev Joshipura, Executive Director, Indiaspora and Rajesh Mehta, an International Consultant and Columnist.
Thanks to Indiaspora & Rajesh Mehta for setting up this conversation with KPMG India.
1. Indian Americans Vote 2020 Voter Survey Results, Joint Report by Indiaspora and AAPI Data, 15 September 2020
2. Indian Roots, American Soil, A Survey of Indian Industry's Business Footprint in the United States, CII Report, Sixth Edition 2020
3. Megha Bahree, India Needs 'Regulatory Coherence,' U.S.-India Business Council Says, Forbes India, 10 July 2019
4. Kashish Parpiani, Understanding India–US trade tensions beyond trade imbalances, ORF, 05 February 2020
5. Manjeet Kripalani and Michael Mandel, A New World for India and the United States, Gateway House, 30 July 2020
The Bridge Project (2020), "Future of US-India Relations: Business, Politics and Diaspora" (7.0), 24 Sept, 2020, URL: https://www.buzzsprout.com/921337/5584759
Carl Jaison (host), Research (Mukul Bhatia and Raunaq Puri)
Inspired by Kevin MacLeod
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