India and Vietnam Aim for $25 Billion Trade Target by 2030
India targets $25 billion trade with Vietnam by 2030, says PM Modi
Business Standard
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India aims to achieve a trade volume of $25 billion with Vietnam by 2030, as announced by Prime Minister Narendra Modi during talks with Vietnamese President To Lam in New Delhi. This goal is part of an upgraded 'enhanced comprehensive strategic partnership' focusing on critical minerals and energy cooperation.
- 01India targets $25 billion trade with Vietnam by 2030.
- 02The relationship between India and Vietnam has been upgraded to an 'enhanced comprehensive strategic partnership.'
- 03Trade between the two nations reached over $16 billion in the fiscal year ending March 2026.
- 04Focus areas include cooperation in critical minerals, rare earths, and energy.
- 05Discussions were held during the first visit of Vietnamese President To Lam to New Delhi.
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India is setting an ambitious target of $25 billion in trade with Vietnam by 2030, as stated by Prime Minister Narendra Modi following discussions with Vietnamese President To Lam during his inaugural visit to New Delhi. This target is part of a broader effort to enhance bilateral relations, which have been elevated to an 'enhanced comprehensive strategic partnership.' Modi emphasized the importance of collaboration in sectors such as critical minerals, rare earths, and energy, aiming to bolster economic security and supply chain resilience for both nations. Notably, trade between India and Vietnam already surpassed $16 billion in the fiscal year ending March 2026, highlighting the growing economic ties between the two countries.
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This trade target could enhance economic opportunities and partnerships for businesses in both India and Vietnam, promoting growth in critical sectors.
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