Prime Minister Manmohan Singh and US President Barack Obama on Monday said relationship between their two countries would "define" the world in the 21st century.
Singh welcomed President Obama to his country, calling the American president a personal friend and "great charismatic leader."
Obama also said he hopes that India and Pakistan over the next few months can "find mechanisms" to work out differences over Kashmir.
Singh announced that India will create new centers to deal with nuclear security and disease prevention, and Obama reiterated moves by the United States to ease export controls affecting trade between the world's two largest democracies.
On Kashmir, Obama said the United States "cannot impose a solution." But he said he has offered to help the two countries work out the problem, saying he believes both "have an interest in reducing tensions."
Calling the Kashmir row a "long-standing dispute between India and Pakistan", Obama said that it was in the interest of both New Delhi and Islamabad to reduce tensions between them.
"The US cannot (provide) a solution to this problem," he said, adding he had indicated to Manmohan Singh that "we are happy to play any role ... that is appropriate to reduce their tensions".
Singh said Obama and his wife, Michelle, have made an abiding impression on the Indian people with their warmth, grace and commitment to promoting relations between the two democracies. The two leaders are holding a joint press conference after holding one-to-one talks.
Here are key points from the press conference.
PM Manmohan Singh
US, India have decided to work as equal partners.
US to lift curbs on high-tech exports
Had extended discussion on Pakistan, Afghanistan
US, India to extend cooperation in defence, space, other high-end fields.
US, India partnership based on common vision, values
Protectionism is detrimental for the economies of both our countries
We are not afraid of talks with Pakistan. You cannot be talking at the same time and simultaneously the terror machine
is active as ever before.
US President Barack Obama
Thrilled to be in India
Ours (Indo-US is not an ordinary relationship)
Prime Minister Manmohan Singh is a man of extraordinary intellect
We (India, US) agreed on the need for all nations in the region to take steps to ensure that there are no safe havens for