Trump spoke with Modi last night to greet him on the eve of India's Independence Day.
During the phone call, Trump welcomed the first-ever shipment of American crude oil to India, which will begin this month from Texas.
He pledged that the US would continue to be a reliable and long-term supplier of energy to India, the White House said in a readout of the phone call between the two leaders.
As the leaders of two of the world's largest and fastest-growing major economies, Trump and Modi looked forward to the Global Entrepreneurship Summit in India this November, the White House said, adding that Trump has asked his daughter and advisor Ivanka Trump to lead the US summit delegation.
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"Prime Minister Modi thanked President Trump for his strong leadership uniting the world against the North Korean menace," it added.
Meanwhile, US Secretary of State Rex Tillerson extended his best wishes to the people of India on the country's Independence Day today.
"The US is proud to stand with the people of India, the world's largest democracy, in the cause for freedom and prosperity around the globe," he said.
"Prime Minister Modi's ambitious vision for the US-India relationship holds great promise for advancing our shared interests in the 21st century, and we look forward to the many years of friendship before us," Tillerson added.