US President-elect Donald Trump on Tuesday announced that Tesla owner Elon Musk and Indian American entrepreneur Vivek Ramaswamy will lead the Department of Government Efficiency or DOGE.

"I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency (DOGE)," Trump announced.

Ramaswamy is the first Indian American to have been tapped by Trump into his administration beginning January 20 next year.

"Together, these two wonderful Americans will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies -- essential to the 'Save America' Movement," he said.

"This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people!" stated Musk, as per the statement issued by Trump.

The US President-elect said this will become, potentially, "The Manhattan Project of the current time".

Republican politicians have dreamed about the objectives of DOGE for a very long time. To drive this kind of drastic change, the Department of Government Efficiency will provide advice and guidance from outside of government, and will partner with the White House and Office of Management and Budget to drive large-scale structural reform, and create an entrepreneurial approach to the government never seen before, he said.

"I look forward to Elon and Vivek making changes to the federal bureaucracy with an eye on efficiency and, at the same time, making life better for all Americans. Importantly, we will drive out the massive waste and fraud which exists throughout our annual USD 6.5 trillion of government spending," said the president-elect.

"They will work together to liberate our economy, and make the US government accountable to 'WE THE PEOPLE'. Their work will conclude no later than July 4, 2026. A smaller government, with more efficiency and less bureaucracy, will be the perfect gift to America on the 250th Anniversary of The Declaration of Independence. I am confident they will succeed!" Trump declared.