Both the countries released a 'declaration of friendship' outlining broad contours of engagements after Prime Minister Narendra Modi and US President Barack Obama held extensive talks during which they broke the 7-year-old logjam in operationalising the civil nuclear deal.
The declaration title "Chalein saath saath; forward together we go" said India and the US agreed to elevate their long-standing strategic partnership and that each step being taken to strengthen the ties is a step towards shaping international security and regional and global peace.
It said the two countries decided to hold regular Summits with increased periodicity as well as to elevate the Strategic Dialogue to a Strategic and Commercial Dialogue.
The strategic elements of the dialogue would continue to be chaired by India's External Affairs Minister and the US Secretary of State while the Commercial components of the dialogue would be led by India's Minister of Trade and Commerce and the US Secretary of Commerce.
They also decided to cooperate to develop joint ventures on strategically significant projects and build meaningful security and effective counter-terrorism cooperation.
They also agreed to consult and hold regular consultations in multilateral forums and leverage the talents and strengths to enhance sustainable, inclusive development around the globe.