India and Vietnam upgraded ties to an Enhanced Comprehensive Strategic Partnership and set a new $25 billion trade target by 2030 during To Lam’s visit.
India and Vietnam upgraded their relationship to an Enhanced Comprehensive Strategic Partnership on Tuesday and set a new bilateral trade target of $25 billion by 2030.
The announcement came during Vietnamese President To Lam’s state visit to India, after talks with Prime Minister Narendra Modi. Official Indian statements said the leaders also discussed defence, security, maritime cooperation and wider Indo-Pacific issues.
The two sides signed a cluster of cooperation documents during the visit, including agreements and memorandums of understanding covering rare earth elements, digital payments, medical products regulation, tourism and digital technologies.
The new trade target is the most concrete economic benchmark to emerge from the visit and signals an effort by both countries to deepen commercial ties alongside strategic cooperation.
India’s Prime Minister’s Office and the Press Information Bureau confirmed the upgraded partnership in official statements, while Vietnam’s official broadcaster also reported the elevation in ties.
The move formalizes a deeper phase in the relationship between the two countries as they look to expand cooperation across trade, technology, defence and the maritime domain.
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Published new article on India-Vietnam partnership upgrade and trade target.