Vaidya, 34, will be the youngest ever President of the associations. Vaidya, who hails from Gujarat, started as a volunteer in the organisation has risen to the top spot.
He is from the engineering and real estate background and has been in the US over a decade.
He has been an integral part of the FIA Executive Committee since the past two years brings along a highly in depth and professional experience to the top spot of FIA.
Sanjay Amin will be immediate past president.
The new officers will take charge from January 1, 2014 and will be sworn in the end of January during FIA's Republic Day Celebrations.
The 43-year-old premier Indian-American organization has been holding India Day Parade for the past 33 years in the streets of Manhattan to promote and project India in mainstream America.
New York Mayor Michael Bloomberg, New York Governors, US Senators and Congressmen, Indian Ambassadors patronized the parade by taking part in the previous years.
Other non-filmi celebrities who led the parade include astronaut Sunita Williams, Anil Kumble, Vijay Mallya and Pandit Jasraj.
Last year Vidya Balan, Anna Hazare, Sarath Kumar and Radikaa and Gen VK Singh took part in the parade.
Those joined the celebrities in the past years include Prime Minister of Antigua and Barbuda Dr Baldwin Spencer, President of Guyana Bharat Jagdeo and Prime Minister of Trinidad and Tobago Kamla Persad-Bissessar.
The FIA had done fund-raising for Woodbridge apartment fire victims, Uttarkhand flash foods and helped in the conduct of Vibrant Gujarat summit.
To address the issues of Immigration Bill that may be potentially harmful to Indians, the FIA is conducting an interactive session with Chairman of the US House of Representatives Rules Committee, Congressman Pete Sessions to address the issues facing the Indian community.
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