Israeli Prime Minister Benjamin Netanyahu and his Indian counterpart Narendra Modi held a telephonic conversation on Wednesday during which they emphasised the importance of continued cooperation between the two countries.

It was the first phone conversation between the two leaders after the Israeli leader assumed office last month.

Prime Minister Modi congratulated Prime Minister Netanyahu on the establishment of the 37th government and emphasised the importance of continued cooperation between the two countries, said a press statement issued by the Israeli PMO.

Netanyahu, 73, was sworn-in as Israel's prime minister for a sixth time on December 29, leading the Jewish state's most right-wing government to date. He is already Israel's longest-serving Prime Minister.

The conversation between the two leaders was "good," the statement said, adding that they agreed to meet soon.

The two leaders recalled fond memories of their visits to Israel in 2017 and India in 2018.

Modi invited Netanyahu to visit India at a mutually convenient date.

"Was a pleasure to speak with my good friend,@netanyahu. Congratulated him for his impressive election win and for becoming Prime Minister for a record sixth time. Delighted that we will have another chance to advance the India-Israel Strategic Partnership together," Modi tweeted.

Modi visited Israel in July 2017 in what was the first such visit by an Indian Prime Minister to the Jewish state. Netanyahu visited India in January 2018.

India and Israel established full-fledged diplomatic relations in 1992.

The ties between India and Israel have been on an upswing in the last few years in a range of sectors, including defence, agriculture and water.