Besides, France will continue to work with India on the Jaitapur nuclear power plant project in the state of Maharashtra.
"IPEF would work to ensure that the Indo-Pacific Region would remain secure and open for business," he told reporters here.
The two sides are expected to deliberate on ways to further expand bilateral cooperation in the areas of defence and security besides taking stock of the developments in the Indo-Pacific.
INS Vikrant not just landmark, it is outcome of 21st century India’s work and determination: PM Modi
With the commissioning of the Vikrant, India now becomes the sixth country to make a warship bigger than 40,000 tonnes.
Both United States and India have acknowledged that they have shared interests in promoting global security, stability, and economic prosperity through trade, investment, and connectivity.
The minister said the India-Myanmar-Thailand Trilateral Highway (IMTT) has the potential of creating a new axis of economic activity in Asia.
The partnership is not intended for ganging up on the People's Republic of China but collaborating on confronting challenges of mutual interests such as fighting global climate change, he added.
The US Indo-Pacific commander, Admiral John C.Aquilino, said the 14 nations involved in the training are signalling their stronger ties as China grows increasingly assertive.
Military leaders from 26 nations are participating in the conference, and most of those are chiefs of defense. China was invited but said it would be unable to attend.
Milley declined to provide specific numbers of unsafe Chinese interactions with US and allied aircraft and ships.
US Army's Pacific Commanding General said the ''destabilising and corrosive" behaviour of the Chinese Community Party in the Indo-Pacific region is simply not helpful.
Biden and Kishida were joined by Indian Prime Minister Narendra Modi while representatives from the other countries appeared by video to help launch the pact.
White House national security adviser Jake Sullivan confirmed that Taiwan isn't among the governments signed up for the launch of the Indo-Pacific Economic Framework.
Modi said during his visit he will also hold a bilateral meeting with US President Joe Biden, where they will discuss further consolidation of the multi-faceted bilateral relations.
The Defence Minister was addressing personnel of the Indian Navy and the Mazgaon Dockyard Limited in Mumbai during the launch of two indigenous Indian Navy frontline warships
Rajnath Singh visits USINDOPACOM HQ, reaffirms commitment to work together for open, inclusive Indo-Pacific
The USINDOPACOM and Indian military have wide-ranging engagements, including a number of military exercises, training events and exchanges.
Singh is in the Hawaiian capital for a brief visit to the Headquarters of the United States Indo-Pacific Command.
India's neutral stance in the war has raised concerns in Washington and earned praise from Russian Foreign Minister Sergey Lavrov.
The two leaders will review ongoing bilateral cooperation and exchange views on recent developments in South Asia, the Indo-Pacific region and global issues of mutual interest, the MEA said.
India, the US 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 manoeuvring in the region.