India, Sri Lanka keen on Vietnam relations

The leaders also agreed to encourage greater two-way investments to further strengthen economic ties, especially in the fields of high technology, transport, manufacturing, logistics, renewable energy, smart agriculture, electric vehicles, IT, healthcare, agriculture, aquaculture, and tourism, among others.

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Indian President Droupadi Murmu (left) and Prime Minister Narendra Modi (right) co-chaired a welcome ceremony for Party General Secretary and State President To Lam in New Delhi on May 6

They also agreed to strengthen the linkages between the two countries’ startup ecosystems and encourage substantive cooperation among innovation centres.

Economic and trade ties between Vietnam and India have maintained strong momentum. In Q1, two-way trade totalled $4.7 billion, up 28 per cent on-year. Vietnam’s exports amounted to $2.9 billion, representing a 25 per cent rise, while imports from India reached $1.8 billion, up 34 per cent on-year.

The Vietnam-India trade structure is shifting towards a higher share of processed industrial goods, technology, and high value-added manufacturing. Simultaneously, this transition is ushering in larger cooperation in electronics, engineering, industrial materials, and consumer goods.

The expansion in two-way trade becomes even clearer, at a modest $200 million at the turn of the century, which soared by over 60 times to $16.5 billion at the end of 2025. India is now among Vietnam’s eighth-largest trading partners.