India and Myanmar on Wednesday sought to take their bilateral ties to the next level even as both the countries decided to strengthen their cooperation in defence, security and across other sectors.

During a bilateral meeting attended by Prime Minister Narendra Modi and State Counsellor of Myanmar Aung San Suu Kyi, both sides also inked pacts on power, banking and insurance.

"As a reliable partner and friend, India stands shoulder to shoulder with you. I wish you and the people of Myanmar all success," Modi said while addressing the media here after the meeting.

Suu Kyi said she had sought India's help in the development and progress of her country.

This is Suu Kyi's first visit to India after her party National League for Democracy came to power in Myanmar in March this year.

Her visit was preceded by their President U Hyin Kyaw in August this year.

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