India and Vietnam Set $25 Billion Trade Target

India and Vietnam have set a bilateral trade target of US$25 billion by 2030. The target relates to merchandise and services exchange between two Asian economies that are members of wider regional trade frameworks in the Indo-Pacific region.

India-Vietnam Economic Relations

India and Vietnam maintain trade, investment, and connectivity links through bilateral agreements and regional platforms. Vietnam is a member of the Association of Southeast Asian Nations (ASEAN), and India is a dialogue partner of ASEAN.

Trade and Strategic Context

India and Vietnam are part of the Indo-Pacific region, which includes the Indian Ocean and the western Pacific Ocean. Bilateral trade between the two countries covers sectors such as pharmaceuticals, machinery, chemicals, textiles, and agricultural products.

Important Facts for Exams

• ASEAN was established in 1967 and has 10 member states.
• Vietnam joined ASEAN in 1995.
• India became a dialogue partner of ASEAN in 1992.
• India and Vietnam have cooperation in defence, energy, and digital technology.

US$25 billion is the bilateral trade target set for 2030. Vietnam is one of India’s important partners in Southeast Asia.