Biden, while delivering a lecture on 'US-India Partnership' at the Bombay Stock Exchange, underscored the need for enhanced engagement between India, China and America.
"The cooperation between the three big nations, India, China and the US, will help grow world economy," he said.
"I've heard people talk about the US-China relationship as everything from the next Cold War to the next G2. None -- neither of those characterisations is accurate," Biden said.
"And we want it to be constructive. There are three big nations, we are three big nations, China, India and the US, with our own perspectives. We have significant common interests. All three of us and the entire region would benefit if we coordinated more closely," he said.
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Biden, who is on a four-day visit to the country, said, "America and India have already built strong trilateral dialogue with Japan. It is past time we launch one with China."
Biden said that he hopes that India will join the US, China and more than 100 other countries to work within the Montreal Protocols to phase down the production and consumption of HFCs.
"Your leaders fully understand that in order to sustain your development India needs access to low-carbon technologies and other sources of clean energy," Biden said.
"And that's why when I was a US Senator and Chairman of the Foreign Relations Committee I fought so hard in the US Senate to champion the US-India Civil Nuclear Agreement," he said.