India, Vietnam elevate ties, vow to boost trade to $25B by 2030

India and Vietnam on Wednesday agreed to elevate their ties to an "enhanced comprehensive strategic partnership," with both countries targeting bilateral trade of $25 billion by 2030.

The announcement came after Indian Prime Minister Narendra Modi held talks in New Delhi with Vietnamese President To Lam, who arrived in India on Tuesday for his first state visit since taking office in April.

Following the talks, Modi in his press remarks said both the nations are elevating bilateral ties to an "enhanced comprehensive strategic partnership."

"Our cooperation will reach new levels in every area -- from culture, connectivity, and capacity building to security, sustainability, and supply chain resilience," Modi said.

Ministry of External Affairs spokesman Randhir Jaiswal said Modi held "wide-ranging discussions" with President To Lam in New Delhi.

The leaders also announced a target to expand bilateral trade to $25 billion by 2030, Jaiswal said on the US social media platform X.

He added that discussions focused on areas including defense and security, trade and investment, and "regional and global issues of mutual interest."

The two leaders also witnessed the exchange of 13 memorandums of understanding (MoUs) across key sectors, including rare earth minerals, culture, and cross-border digital payments.

In 2025-2026, India-Vietnam bilateral trade crossed $16 billion.