Mukherjee, for his part, said India-US relations "are based on shared fundamental values and a growing convergence of interests".
Biden, on his second day of visit to the country, met Mukherjee at the Rashtrapti Bhawan in the evening.
President Mukherjee, welcoming Biden, said India always gave high priority to its relations with the United States of Amercia and it appreciates the strong voice of support for India-related issues in the Senate, including the bilateral Civil Nuclear Cooperation Agreement.
Biden, according to the statement, said relations between the two countries were critical for the entire region.
"The issue is no longer what the US can do for India but what the two countries can do together in the world. No other two countries have so much at stake or in common in the emerging global scenario," the statement quoted Biden as saying.