India and Vietnam on Wednesday agreed to boost their bilateral relationship, aiming to elevate ties to an “Enhanced Comprehensive Strategic Partnership” while outlining an ambitious roadmap for trade, defence and technology cooperation.The decision followed talks between Prime Minister Narendra Modi and Vietnam president To Lam, with both sides emphasising deeper alignment across strategic and economic domains. The joint statement said the upgrade reflects a shared commitment to “shared vision, strategic convergence, substantive cooperation.”As part of the economic push, the two countries set a fresh bilateral trade target of “25 billion USD by 2030,” signalling intent to scale up engagement between two of Asia’s fastest-growing economies. Both sides also agreed to widen investment flows across sectors such as high-technology manufacturing, renewable energy, logistics, electric vehicles and digital services.PM Modi also announced the developments in building bilateral relations adding, “Priority will also be given towards enhancing cultural linkages.”Briefing the media, MEA Secretary (East) P Kumaran reiterated the economic focus of the visit, stating, “We agreed that a new trade target of USD 25 billion would be set for achieving by 2030.”Market access for agricultural goods saw progress, with the two sides welcoming approval for Indian grapes and Vietnamese durians, while committing to fast-track access for other products including pomegranates and pomelos.
Supply chain resilience and diversification were also part of the discussions, with Vietnam expressing readiness to expand imports from India to support its domestic manufacturing and export ecosystem. The two countries also agreed to strengthen cooperation in the digital economy, particularly by enabling MSMEs to integrate into global value chains through e-commerce platforms.The two sides also agreed to step up defence procurement and industrial collaboration, reflecting growing strategic convergence in the Indo-Pacific.Maritime cooperation emerged as another key pillar, with both countries underscoring the importance of security and domain awareness in the region. Vietnam welcomed India’s offer to host its liaison officer at the Information Fusion Centre–Indian Ocean Region in Gurugram.Collaboration in emerging technologies is also set to expand, covering areas such as digital public infrastructure, artificial intelligence, 6G, space and critical minerals. A series of agreements, including one between the Reserve Bank of India and the State Bank of Vietnam, aim to boost financial innovation and enable cross-border digital payments through QR-based systems.India’s development partnership footprint in Vietnam was also highlighted, with 66 quick impact projects implemented across most provinces, drawing appreciation for their grassroots impact.
