NEW DELHI, May 12: India and Vietnam on Tuesday elevated their bilateral ties to an enhanced comprehensive strategic partnership, signalling a major expansion in cooperation across trade, defence, technology, and critical mineral sectors.
Prime Minister Narendra Modi and Vietnamese President To Lam held extensive discussions in New Delhi focusing on strengthening economic engagement and regional stability amid growing geopolitical uncertainty in the Indo-Pacific.
Following the talks, both countries announced a target of increasing bilateral trade to USD 25 billion annually by 2030. Officials said the new roadmap would prioritise investments, supply chain resilience, maritime cooperation, and digital connectivity.
India and Vietnam also signed 13 agreements covering areas such as defence collaboration, renewable energy, education, pharmaceuticals, space technology, and critical mineral exploration.
Speaking after the meeting, Modi described Vietnam as an important pillar of India’s Act East policy and a trusted strategic partner in Southeast Asia. He said stronger ties between the two countries would contribute to peace, economic growth, and regional stability.
President To Lam highlighted the importance of deeper economic integration and technological cooperation between emerging economies in Asia. He also appreciated India’s growing role in maintaining a free and open Indo-Pacific region.
Officials indicated that defence cooperation would remain a central pillar of the partnership. Both countries agreed to expand military exchanges, naval coordination, and training programmes.
The discussions also focused on semiconductor supply chains and critical minerals, sectors that have gained strategic importance globally due to increasing competition over technology manufacturing and energy transitions.
Trade experts believe the new target of USD 25 billion reflects the growing economic potential between the two nations. Bilateral trade has expanded steadily over the past decade, driven by sectors including electronics, pharmaceuticals, agriculture, and machinery.
India has also emerged as a significant development partner for Vietnam through capacity-building initiatives and infrastructure cooperation.
Diplomatic observers said the upgraded partnership demonstrates India’s effort to strengthen strategic engagement with ASEAN nations while balancing regional geopolitical dynamics.
The two leaders additionally exchanged views on maritime security, regional connectivity, and global economic challenges. Both sides reaffirmed support for peaceful resolution of disputes and respect for international law.
Experts believe the expanded partnership could create new opportunities for Indian businesses seeking access to Southeast Asian markets while helping Vietnam diversify economic and defence partnerships.
The agreements signed during the visit are expected to accelerate cooperation in emerging technologies and sustainable development initiatives over the next decade.