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Trump's commanding performance means he has all but clinched his third consecutive presidential nomination.
The former president is the frontrunner for the Republican presidential nomination.
The 216-to-210 vote marked the first time in history that the House removed its leader, with eight Republicans voting with 208 Democrats to remove McCarthy.
At 38, Ramaswamy is the youngest Republican presidential candidate ever. His polling numbers have gone up after the maiden presidential debate in Milwaukee, Wisconsin on August 23.
According to the Ramaswamy campaign, the 38-year-old presidential aspirant raised more than USD 450,000, with an average donation of USD 38, in the first hour after the debate on Wednesday.
In the absence of former President Donald Trump, the Republican rivals traded attacks.
The Keralite, who has his origins in Vadakkencherry of Palakkad district, is a staunch Trump supporter.
US Special Counsel Jack Smith filed three new criminal counts against Trump, bringing the total to 40
He is the second Indian-American to enter the Republican presidential primary.
McCarthy's victory in the 15th ballot brought an end to the deepest congressional dysfunction in over 160 years.