Locke and Ambani expressed their desire to work together to accelerate the development of the bilateral relationship, informed sources told the Press Trust of India.
They had a productive meeting on the value of having more US medium-sized companies do business in India and the importance of US Export-Import Bank financing, an official said.
The United States is eagerly looking to have more medium-sized companies establish their foothold in India through joint ventures.
It is believed that during the meeting, Locke spoke of the momentum of the US-India economic relationship in the wake of Obama's historic visit to India last November.
Both expressed desire to work together to accelerate the development of the bilateral relationship, sources said. On Friday, Ambani will participate in a panel discussion on 'The Shifting Global Economy and Implications for Trade', which is being held during the two-day conference annual conference of the US Export-Import (Ex-Im) Bank, which kicked off of Thursday.
The panel discussion will be moderated by news channel PBS's Senior Correspondent, Judy Woodruff. Other participants in the panel discussion are Bloomberg News Chief Washington Correspondent Peter Cook and Peterson Institute for International Economics Senior Fellow Arvind Subramanian.