Jaishankar handed over the invitation letter when he met her at her official residence Ganobhaban.
Sheikh Hasina extended her thanks to Modi for the invitation and greeted him.
During the meeting, Jaishankar expressed their interest in enhancing cooperation in energy sector, especially in the hydroelectricity project, to meet the growing demand of the energy in the two neighbouring countries.
"The hydroelectric project can be implemented effectively as the cost of this project is lower," Jaishankar said.
PM's press secretary Ihsanul Karim briefed reporters after the meeting.
He said the Indian minister mentioned that the indo-Bangla relations have taken a new height during the last five years.
"Understanding and collaboration in different sectors have increased."
The Indian minister put emphasis on simplification of visits by the people of the two countries and increasing the regular contacts between the two friendly counties.