He assured the Thai Prime Minister of India's commitment to support the pharmaceutical requirements of Thailand, the statement said.
Modi also held a meeting with Singaporean Prime Minister Lee Hsien Loong, the current chair of the ASEAN grouping.
Ties between the countries had been strained following a coup orchestrated by former Thai army chief Prayut three years ago, although he met Trump's predecessor Barack Obama during a ASEAN-US summit in California last February.
Axis Bank on June 17 said it has signed an agreement with Thailand's Kasikorn Bank to enhance cooperation in trade and investment
"Trade between two countries is quite low and there is room for more cooperation between Thailand and India," Thailand Board of Investment Deputy Secretary General Chokedee Kaewasang said here.