In a significant diplomatic development, India and Vietnam have upgraded their bilateral relationship to an Enhanced Comprehensive Strategic Partnership, marking a new phase of cooperation across key sectors.
The decision was announced following talks between Narendra Modi and Vietnamese President To Lam in New Delhi. The move signals deeper diplomatic and economic engagement between the two nations.
A key outcome of the meeting is the shared target to increase bilateral trade to $25 billion by 2030, up from around $16.46 billion recorded in 2025-26. The new partnership reflects stronger strategic coordination, especially in the Indo-Pacific region.
PM Modi said the upgraded framework would take cooperation to “higher goals,” with expanded focus on connectivity, culture, and capacity building. Notably, Vietnam was India’s first Comprehensive Strategic Partner in ASEAN 10 years ago.
To support the new trade ambitions, both countries signed 13 agreements across various sectors during the meeting.
One major agreement was signed between the Reserve Bank of India and the State Bank of Vietnam to promote digital payment integration, including QR-based transactions. This step aims to ease cross-border trade and tourism.
The two countries also agreed to strengthen cooperation in rare earth minerals to build resilient supply chains for industries such as semiconductors and electric vehicles.
The partnership further highlights growing collaboration in defense and security. Both sides plan to enhance ties in maritime security, defense procurement, and manufacturing. Discussions also covered peaceful nuclear energy, space technology, and next-generation telecom like 6G.
This expanded engagement aligns with India’s Act East policy and is expected to strengthen regional security cooperation in Asia.
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