India targets $25 billion trade with Vietnam by 2030, Modi says
India aims to reach $25 billion in bilateral trade with Vietnam by 2030, according to Prime Minister Narendra Modi, following high-level talks in New Delhi with Vietnamese President To Lam.
The announcement was made during President To Lam’s first official visit to India, marking a new phase in relations between the two countries.
Expanding cooperation in key sectors
Modi said both countries would deepen cooperation in critical minerals, rare earths, and energy, aiming to strengthen economic security and make supply chains more resilient.
As part of the visit, India and Vietnam upgraded their relations to an “enhanced comprehensive strategic partnership,” reflecting growing political and economic alignment.
Rising trade momentum
Bilateral trade between India and Vietnam has already surpassed $16 billion in the Indian fiscal year ending March 2026, highlighting steady growth in commercial exchanges.
Both governments are now seeking to diversify trade and investment flows, particularly in strategic sectors linked to technology and energy transition.
Regional outlook
The agreement underscores India’s broader strategy to strengthen ties across Southeast Asia as global supply chains continue to shift due to geopolitical and economic changes.
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