The invitation has been accepted in principle and officials from both countries are currently working to decide on mutually suitable dates for the visit, which will most probably be held in June or July, news agency PTI reported.
This comes in the backdrop of several events being hosted by India this year, such as the G-20 summit in September, which will be attended by Biden among other world leaders.
The reason for choosing June or July for the state visit is that PM Modi will have a few days at his disposal at this time, since he does not have any predetermined domestic or foreign commitments. Also, the US House of Representatives and the Senate will be in session during that period.
After the state visit, PM Modi is scheduled to hit the campaign trail for the multiple state Assembly elections due to be held later this year.
'Will Announce State Visit at an Appropriate Time': MEA
When asked whether Modi will be visiting the US for a state visit this year, the Ministry of External Affairs said that currently no specific dates can be talked about.
"We can't comment on such media reports. We will announce a high-level visit at the appropriate time. At this point, I am not aware of any specific date or visit. As you know there are visits going on there. And, so let me not pre-judge anything, I saw such a report but let's avoid commenting on any such report," MEA spokesperson Arindam Bagchi said during a press conference on Thursday, 2 February.
Speaking to the media in Washington DC, a senior government official said on the condition of anonymity that Biden considers the relationship between India and the US to be of utmost importance to address global challenges.
"President Biden views that as two of the world's leading knowledge economies, this partnership is essential. He believes that no success and enduring effort to address any of the major challenges that the world faces today, whether we're looking at food or energy or health security, the climate crisis, or upholding a free and open Indo-Pacific, going to work without a US-India partnership at its heart," the official said.
On Tuesday, National Security Advisor Ajit Doval and his US counterpart Jake Sullivan had launched the India-US initiative on Critical and Emerging Technologies, describing it as the "next big thing" in the bilateral partnership between the two countries.
(With inputs from PTI.)