The two countries are also bound by "deep bonds" between their people, he added with a shout out to "the vibrant Indian-American community in the US (that) has made us a more innovative, inclusive, and stronger Nation".
The two leaders are in Japan for the second Quad leaders' in-person summit.
"Is this (virtual meeting) elevation of the 2+2? I think it was very helpful for us to have interaction even as we sat there ourselves, between the Prime Minister and the President, Jaishankar told reporters as he concluded his trip here.
Earlier, in his opening remarks at the 2+2 ministerial, Singh said that India places the highest priority upon the strategic partnership with USA. "Major defence partnership is one of the most important pillars of India-US strategic relations, he said.
The sentiment was echoed by Defence Minister Rajnath Singh, Secretary of State Antony Blinken and Defence Secretary Lloyd Austin, the other participants in Monday's 2+2 meeting of the defence and diplomatic leaders.