The partnership between the US and India has steadily deepened for well over a decade, both in the strategic and economic dimensions. But there are opportunities for even more accelerated growth in the India - US corridor, driven by a strong foundation of shared values, shared interests, and a strong people-to-people relationship.
As the impact of digital technologies continues to expand globally and additional sectors of India’s economy embrace technological transformation, the India-US tech corridor is primed for breathtaking growth. A key area particularly poised for break-out growth: deep tech
The US and India’s shared mindset
The US and India share many traits which make them “natural allies’ in the words of both President Biden and Prime Minister Modi. The use of the English language is one: India has the largest number of English speakers in the world., enabling communication and collaboration across borders and cultures. The legal systems, based on common law and constitutionally guaranteed freedoms, are another complementary area. Lastly, and perhaps most importantly, Indian and American societies both possess a decidedly aspirational and entrepreneurial spirit. This similarity in generational attitudes, with bold ambitions motivating entrepreneurs in both countries, creates a common appetite for innovation and rapid social and economic progress.
India is also a top ten trade partner with the US, growing substantially over the last two decades. Within tech, nearly every major U.S. company has established operations in India, creating a dynamic technology corridor between the countries, with companies undertaking activities ranging from product development to advanced research. It was recently reported that 120,000 semiconductor designers work in India supporting global companies. Post-pandemic, the impact of this corridor will only grow further as enterprises continue to embrace the benefits of remote working and a global ‘one-team’ model. A hybrid India - U.S. presence is a strong competitive advantage, helping companies to efficiently develop best-in-class, globally scalable products. The joint competitive advantage is reflected in the steadily increasing corporate investments in both directions.
Much of the tech sector expansion within India, and indeed in the U.S. as well, has been enabled by the exponential growth of India’s tech talent base. India’s academic institutions offer globally competitive technology and engineering programs. Increasing numbers of Indian students have also begun attending American universities – quadrupling in number over the last 20 years – with many remaining in the States to work for global tech firms.
For over twenty years, Indian origin engineers have been a significant component of the talent base in Silicon Valley. Today, a disproportionate number of startups have Indian founders. These veritable cross-border synergies and deeply interwoven economic ties have helped to create an intensely strong bond between between the tech sectors of Silicon Valley and India.
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