He was of the view that the US is likely to become more isolationist irrespective of who becomes the country's next president. The US presidential election, he said, was unlikely to reverse what he called a long-term trend in US policy.
PM Modi said that a few incidents can't derail India-US bilateral relations.
Speaking at the US-India Business Council (USIBC) India Ideas Summit, virtually, the External Affairs Minister said that the relation signals a very positive enabling environment to conduct businesses.
Under the Trump Administration, the United States has become the second-largest arms supplier to India, growing from virtually no arms sales a decade ago to more than $20 billion today, a White House official said.
In the last few weeks, dozens of lawmakers, across the aisle, both on the floor of the House of Representatives and the Senate and outside the Capitol have praised India of standing strong against the Chinese efforts to grab Indian territories.
White House officials said that a request was made by Prime Minister Modi to President Trump when the two met in France last month on the sidelines of the G-7 summit.
The inter-sessional meeting is aimed at strengthening the strategic partnership, the State Department said on Wednesday.
However, a few termed the budget as cautious and asserted that it was not going to alleviate the current state of trade tensions between the US and India.
The remarks by Iran's Ambassador to India come a week after US Secretary of State Michael Pompeo hailed India for cutting off oil imports from Iran.
The National Defense Authorisation Act or NDAA for the fiscal year 2020, that contained such a proposal was passed by the US Senate last week.
