Prime Minister Modi also called for concerted efforts by countries of region to deal with terrorism and extremism.
The president said the ASEAN leaders adopted and noted a number of declarations, statements, and action plans across the three pillars of the ASEAN Community, and on ASEAN's relations with dialogue partners, "which reflect our desire for greater cooperation in addressing a multitude of concerns facing the region and our people".
The summit was attended by US President Donald Trump, President Duterte, and other ASEAN leaders at the Philippine International Convention Center. "We had extensive discussions on enhancing India-Philippines bilateral cooperation especially in trade, business and culture", Modi tweeted after the first visit by an Indian PM to Philippines in 36 years.
Speaking at a press conference with Malaysian journalists at the end of the 31st ASEAN Summit and Related Meetings on Tuesday, Najib said ASEAN was increasingly valued by world and regional powers for its strategic importance and position.
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China claims sovereignty over all of SCS, a huge source of hydrocarbons.
On Sunday, India, Australia, Japan and the U.S. held their first meeting to give shape to the much talked about quadrilateral alliance to keep the Indo-Pacific region "free and open".
India has been supporting freedom of navigation and access to resources in the SCS in accordance with principles of global law, including the 1982 UN Convention on the Law of the Sea.
Prime Minister Modi also talked about shared values and common destiny between India and ASEAN.
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The East Asia Summit is a forum held annually by leaders of 18 countries including ASEAN nations India, the United States and Russian Federation. India's investment in Asean during the same period has been more than $40 billion.
Apart from the 10 ASEAN Member states, East Asia Summit includes India, China, Japan, Republic of Korea, Australia, New Zealand, United States and Russian Federation.
Duterte, whose country is the chair of ASEAN this year, handed over the chairmanship of ASEAN for 2018 to Singapore Prime Minister Lee Hsien Loong.
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That brings the total number of millionaires in the USA up to approximately 15,356,000, or about one in every 20 Americans. Not everyone expects to acquire such wealth, however, especially millennials.