India and Vietnam have agreed to significantly expand their bilateral engagement, with both countries outlining a broader strategic and economic roadmap covering trade, technology, defence and supply chain cooperation.
The developments followed discussions between PM Narendra Modi and Vietnam President To Lam, after which both sides agreed to work towards elevating relations to an “Enhanced Comprehensive Strategic Partnership.”
According to the joint statement, the proposed upgrade reflects a commitment towards “shared vision, strategic convergence, substantive cooperation.”
As part of the economic agenda, India and Vietnam set a fresh bilateral trade target of $25 billion by 2030. The 2 countries also agreed to encourage investment flows across sectors including high-technology manufacturing, renewable energy, logistics, electric vehicles and digital services.
Prime Minister Modi stated that priority would also be given to strengthening cultural linkages between the 2 countries.
Market access discussions also progressed during the visit. Both countries welcomed approvals for Indian grapes and Vietnamese durians, while agreeing to fast-track approvals for additional products such as pomegranates and pomelos.
In a media briefing, MEA Secretary (East) P Kumaran said, “We agreed that a new trade target of $25 billion would be set for achieving by 2030,” reaffirming the economic focus of the engagement.
Vietnam also expressed readiness to expand imports from India to support its domestic manufacturing and export ecosystem.
Both nations agreed to strengthen cooperation in the digital economy, particularly by helping MSMEs integrate into global value chains through e-commerce platforms.
The 2 countries also agreed to deepen defence procurement and industrial collaboration, reflecting increasing strategic alignment in the Indo-Pacific region.
Maritime cooperation emerged as another important area, with both sides emphasising regional security and maritime domain awareness.
Vietnam welcomed India’s proposal to host a Vietnamese liaison officer at the Information Fusion Centre–Indian Ocean Region in Gurugram.
Collaboration is also expected to expand in emerging technologies such as digital public infrastructure, artificial intelligence, 6G, space and critical minerals.
In the financial sector, agreements between Reserve Bank of India and the State Bank of Vietnam aim to support financial innovation and enable QR-based cross-border digital payment systems.
India’s development partnership initiatives in Vietnam were also highlighted during the discussions.
India has implemented 66 quick impact projects across most provinces in Vietnam, with the Vietnamese side acknowledging their grassroots-level impact.
Read More: India and Vietnam Sign 13 MoUs Across Key Sectors During Bilateral Talks!
The latest agreements reflect a broader push by India and Vietnam to strengthen economic, strategic and technological engagement, while positioning bilateral ties for deeper long-term cooperation across multiple sectors.
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Published on: May 7, 2026, 10:19 AM IST
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