India and Vietnam have formalised a strategic roadmap to lift bilateral trade to USD 25 billion by 2030, Prime Minister Narendra Modi announced after talks with Vietnamese President To Lam in New Delhi.
The leaders witnessed the signing of several Memoranda of Understanding at Hyderabad House that aim to expand market access and sectoral cooperation. A key MoU between drug regulatory authorities is expected to improve Vietnamese access to Indian medicines. At the same time, exports of Indian agricultural, fisheries and animal products to Vietnam will be facilitated through streamlined procedures.
Modi said agricultural exchange will produce quick, tangible results: Indian grapes and pomegranates will soon be available in Vietnam, while Vietnam’s pomelos will reach Indian markets. Both sides also agreed to update the India–ASEAN Trade Agreement by year-end to stimulate trade and investment across the region.
Looking ahead, the roadmap prioritises supply‑chain stability and infrastructure development. New initiatives will focus on critical minerals, rare earths and energy cooperation to bolster economic security and resilience. Connectivity and capacity‑building remain central pillars, and direct air links between India and Vietnam are expanding steadily.
To deepen financial ties, the two governments committed to closer cooperation between their central banks to enhance financial connectivity and support growing trade flows.
The agreements and planned initiatives reflect a steady broadening of economic and strategic ties between India and Vietnam, aimed at creating more resilient, diversified and mutually beneficial links across trade, industry and finance.
