Mr Singh, while speaking at the Annual General Meeting of Amcham India (American Chamber Of Commerce In India), said the two countries had convergence of views on issues such as freedom of navigation in the Indo-Pacific and those related to the borders.
However, he said it was only in the recent years, that the two countries have started sharing those views with each other.
Mr Singh's remarks come amid China's muscle-flexing in the South China Sea.
"Despite what has been written a lot of times, relations between the US and India have followed a stable trajectory. There are always few ups and downs in any relationship, be it between husband and wife or between nations. But this does not mean that the trajectory is lost. Despite change in governments, parties, the relations have endured," Mr Singh said.
Indo-US ties were affected during the Cold war years and it was only in the first decade of the 21st century that bilateral relations started witnessing an upswing with a significant milestone being the 2008 Indo-US nuclear deal.
Mr Singh said the Indian and US businesses have to look what is mutually beneficial to enhance cooperation.
The US companies can make use of the growing Indian market, he said.
"India is a huge market which is going to grow and somebody has to make use of it. Our production levels are never going to meet the aspirations of the market," Singh said.
He made a strong pitch for 'Make In India' and urged the US companies to explore ways to be a part of it.
Mr Singh also sought to assuage the concern of US companies over Intellectual Property Rights and asserted that India has a strong commitment towards it.