India, Vietnam Target $25 Billion Bilateral Trade by 2030
Leaders upgrade ties to Enhanced Comprehensive Strategic Partnership during President To Lam’s India visit
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India and Vietnam have set a target of achieving bilateral trade worth $25 billion by 2030, Prime Minister Narendra Modi announced on Wednesday following talks with Vietnamese President To Lam during his first official visit to New Delhi.
The two countries also agreed to elevate their ties to an “Enhanced Comprehensive Strategic Partnership,” reflecting growing cooperation across trade, energy, critical minerals, and supply chain resilience.
Speaking after the bilateral meeting, Prime Minister Modi said India and Vietnam would strengthen collaboration in strategic sectors to support long-term economic security for both nations.
“Through new initiatives in critical minerals, rare earths, and energy cooperation, we will ensure the economic security and supply chain resilience of both countries,” Modi said.
Bilateral trade between India and Vietnam surpassed $16 billion during India’s fiscal year ending March 2026, according to official figures. Both sides expressed confidence that expanded cooperation and new investment initiatives would help accelerate trade growth over the coming years.
Officials said discussions also covered regional connectivity, maritime cooperation, technology partnerships, and expanding business engagement between the two economies.
President To Lam’s visit is expected to further deepen economic and strategic relations as India and Vietnam continue to strengthen cooperation in the Indo-Pacific region.
India and Vietnam have set a target of achieving bilateral trade worth $25 billion by 2030, Prime Minister Narendra Modi announced on Wednesday following talks with Vietnamese President To Lam during his first official visit to New Delhi.
The two countries also agreed to elevate their ties to an “Enhanced Comprehensive Strategic Partnership,” reflecting growing cooperation across trade, energy, critical minerals, and supply chain resilience.
Speaking after the bilateral meeting, Prime Minister Modi said India and Vietnam would strengthen collaboration in strategic sectors to support long-term economic security for both nations.
“Through new initiatives in critical minerals, rare earths, and energy cooperation, we will ensure the economic security and supply chain resilience of both countries,” Modi said.
Bilateral trade between India and Vietnam surpassed $16 billion during India’s fiscal year ending March 2026, according to official figures. Both sides expressed confidence that expanded cooperation and new investment initiatives would help accelerate trade growth over the coming years.
Officials said discussions also covered regional connectivity, maritime cooperation, technology partnerships, and expanding business engagement between the two economies.
President To Lam’s visit is expected to further deepen economic and strategic relations as India and Vietnam continue to strengthen cooperation in the Indo-Pacific region.
