India Vietnam Set $25 Billion Trade Target
India and Vietnam have upgraded their bilateral ties to an Enhanced Comprehensive Strategic Partnership and set a target of raising two-way trade to $25 billion by 2030.
India Vietnam Strategic Partnership Upgraded
The decision was announced after talks between Prime Minister Narendra Modi and Vietnamese President To Lam in New Delhi. The upgrade marks a deeper phase in India-Vietnam relations, with both countries agreeing to expand cooperation across trade, defence, technology, energy and connectivity.
The two sides also signed 13 agreements covering key sectors, including digital payments, science and technology, agriculture, health and cultural exchanges.
$25 Billion Trade Target By 2030
India and Vietnam have set a new bilateral trade target of $25 billion by 2030. Trade between the two countries has already crossed $16 billion, making Vietnam one of India’s important economic partners in Southeast Asia.
Both countries are looking to increase market access, strengthen supply chains and encourage greater business engagement. The focus is also on emerging sectors such as critical minerals, rare earth elements, renewable energy and digital infrastructure.
Defence And Indo-Pacific Cooperation In Focus
India and Vietnam reaffirmed their commitment to a free, open and rules-based Indo-Pacific. The two countries also underlined the importance of freedom of navigation and peaceful settlement of disputes under international law.
The upgraded partnership comes at a time when both nations are working to diversify trade links and reduce strategic vulnerabilities in critical sectors. For India, stronger ties with Vietnam fit into its Act East policy and wider engagement with ASEAN. For Vietnam, the partnership offers deeper economic, defence and technology cooperation with New Delhi.
