US-India ties based on common vision and values: US Defence Secretary Lloyd Austin

"We are co-producing armoured vehicles with India," he said, adding that good progress has been made on the project.

The US-India relations are based on a common vision and common values. "So, I believe the momentum that we see is not only going to continue but, at a point, it will pick up speed." In his address on the Indo-Pacific region, Austin said: "Together with our friends in the region, we are breaking down national barriers and better integrating our defence industry." America will continue to play a vital role in the Indo-Pacific, he assured.

The Indo-Pacific is a biogeographic region, comprising the Indian Ocean and the western and central Pacific Ocean, including the South China Sea. China claims nearly all of the South China Sea, though Taiwan, the Philippines, Brunei, Malaysia and Vietnam claim parts of it.

The US, India and several other world powers have been talking about the need to ensure a free, open and thriving Indo-Pacific in the backdrop of China's rising military assertiveness in the resource-rich region.

Austin also informed delegates that the US defence industry is being integrated with those of the regional countries, including Japan.

"Together we are investing in capabilities that promote lasting security and stability. And together we are ensuring that the Indo Pacific will remain secure." He underlined why the US was maintaining a presence in the region and will continue to make investments necessary with its commitment to allies and partners.

"We consistently link our investments to our strategy , the United States has devoted a historic amount of resources towards maintaining the Indo-Pacific. "The United States can be secure only if Asia is and that's why the United States has long maintained its presence in this region," he stressed.