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President Barack Obama and Indian Prime Minister Narendra Modi said the U.S. and India will establish a joint program to boost business investment and signed an agreement to expand defense and security cooperation.

Obama and Modi spoke in the Oval Office at the end of two days of talks at the White House that focused on ways to reinvigorate the U.S.-India relationship through economic, energy and security cooperation with a goal of spurring growth in both nations.

The meetings between Obama and Modi, which included a private dinner last night at the White House even though Modi is fasting, were described as pivotal by administration officials because U.S.-India relations soured when Modi was denied a visa in 2005 over anti-Muslim riots in his state of Gujarat three years earlier.

Following his meeting with the U.S. president, Modi said his U.S. visit has reinforced my conviction that India and the United States are natural global partners.

He said hes confident of Indias rapid economic growth and will focus his government on making it easier to do business in India, particularly for U.S. companies helping develop the Indian defense industry. Modi said he asked Obamas help in giving Indian service companies access to the U.S. market.

The new investment initiative will be overseen by the Indian Ministry of Finance and the U.S. Treasury, according to White House press secretary Josh Earnest.

Obama said the two also discussed security challenges that include the Islamic State extremists in Iraq and Syria.

The two countries agreed to disrupt financial and tactical support for Asian and Middle Eastern terrorist groups including Lashkar-e-Taiba in South Asia, Jaish-e-Mohammed in Kashmir and the Haqqani Network in Afghanistan, Syed Akbaruddin, spokesman for the Indian Ministry of External Affairs, said on Twitter.

Human rights and inclusive governance also came up during the discussions between Obama and Modi,Earnest said.

Hes publicly spoken about his desire to be a leader for all Indians, Earnest said. Those are aspirations that the United States would strongly support.

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Obama Joins With Modi in Pledge to Expand Economic Ties