"Because we are two large, dynamic democracies, we share many of the same concerns and common interests regionally and globally. Without a doubt, the world benefits from close cooperation and collaboration between the US and India," Albright told PTI in an interview.
"On one hand, broadening and deepening our economic and commercial ties across a range of sectors is critical at this moment, for example in civilian nuclear cooperation. Strengthening our security partnership is also vital," she said, ahead of the fourth India-US Strategic Dialogue in New Delhi next week.
"There is also important work to be done to empower women further in society, to bolster food security, and to find common approaches on climate change and clean energy," she said.
Albright, the 64th US Secretary of State, has just concluded a trip to India.
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"I just visited India and had a wide range of meetings with government and business leaders and can also personally testify not only to the bonds between our two countries but also the great potential that still lies ahead for closer trade and business ties, broader cultural exchanges, and deeper political cooperation," the former top American diplomat said.
"While this will be his first visit to India as Secretary of State, it will not be his first time in this great country. When he was Senator, he led the first US Congressional trade delegation to India and is very familiar with the range of issues that need to be addressed by our two countries," Albright added.
Responding to questions on the flurry of letters written by lawmakers and the business associations both to US President Barack Obama and Secretary Kerry, the former top American diplomat said it is important that the many stakeholders have a voice in this conversation.
"I believe part of the Strategic Dialogue next week will be about how to strengthen confidence in the institutions of both governance and economics to ensure a level-playing field for businesses in both countries," she added.