India and Vietnam Forge Strategic Roadmap for $25 Billion Trade by 2030

India and Vietnam have set a strategic roadmap to boost bilateral trade to USD 25 billion by 2030. Prime Minister Narendra Modi and Vietnam's President To Lam formalized this plan, emphasizing economic cooperation, market access, and enhanced trade across various sectors, including agriculture and supply chain stability.

In a landmark announcement on Wednesday, India's Prime Minister Narendra Modi revealed that India and Vietnam have outlined a strategic plan to elevate their bilateral trade to USD 25 billion by 2030. This ambitious initiative was disclosed following a high-profile meeting with Vietnam's President, To Lam, at Hyderabad House in Delhi.

Both leaders highlighted measures aimed at expanding market access and increasing trade volumes. A significant agreement involves the drug authorities of both nations, designed to enhance the availability of Indian medicines in Vietnam. Furthermore, the export of Indian agricultural products is set to become more streamlined, promising benefits for consumers in both countries.

Emphasizing future-ready sectors, Prime Minister Modi pointed to new initiatives in critical minerals and energy cooperation, fostering economic security and supply chain resilience. Enhanced air connectivity and collaboration between financial institutions further strengthen this growing partnership, reflecting the deepening economic and strategic ties between the two nations.