External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh held the 2+2 talks here with their Australian counterparts Marise Payne and Peter Dutton.
In its reaction, Pakistan on Wednesday called it "unwarranted" the reference made towards it.
The talks are expected to focus on regional and global security, defence information sharing, strengthening and working in the Indo-Pacific, and cooperation on public health.
As the bitter race between Trump and former Vice President Joe Biden winds down, the talks this week in New Delhi aim to reinforce the president's anti-China campaign message.
Bilateral trade grew to USD 126 billion last year, and, parallel with the launch of the Strategic Energy Partnership, US-sourced oil and liquefied natural gas landed on Indian shores.
The two sides pledged to work together on regional and global issues, including in bilateral, trilateral, and quadrilateral formats.
In a special gesture, Swaraj received US Secretary Pompeo at the airport here yesterday while Sitharaman welcomed Defence Secretary Mattis, reflecting the importance India attaches to their visit.
The United States and India are engaged in very detailed conversations over Washington's request to completely stop India's oil imports from Iran.
2+2 dialogue: Iran, Russia sanctions not to be stumbling blocks in talks, says US Secretary of state Pompeo
Pompeo and Mattis will meet with Swaraj and Sitharaman on Thursday for the first-ever 2+2 Dialogue between the strategic partners.
A lot will depend on the flexibility they while discussing their concerns and the willingness to agree to disagree over certain issues.
US Secretary of State Mike Pompeo spoke to Sushma Swaraj "to express his regret and deep disappointment at the US having to postpone the 2+2 Dialogue for unavoidable reasons".