In 2024, the 2 sides adopted an Motion Plan to implement the Complete Strategic Partnership for the 2024-2028 interval. This doc not solely consolidates conventional areas of cooperation but additionally expands into new domains reminiscent of science and know-how, innovation, digital transformation, vitality and sustainable growth.
Economic system continues to be a brilliant spot in bilateral cooperation
Over the previous decade, Vietnam-India financial cooperation has recorded important constructive developments. Bilateral commerce turnover has maintained regular development, rising from over USD 14 billion in 2023 to just about USD 16.5 billion in 2025, reflecting the more and more shut integration between the 2 dynamic Asian economies.
The construction of two-way commerce has more and more demonstrated complementarity. Vietnam has strengthened its exports of electronics, equipment, processed agricultural merchandise, wooden, and seafood, whereas India serves as an essential provider of metal, prescribed drugs, chemical substances, and textiles to Vietnam.
Amid the continuing restructuring of world provide chains, each Vietnam and India are intensifying efforts to diversify their companions and scale back dependency dangers. This creates important room for the 2 nations to advertise provide chain linkages in areas reminiscent of processing and manufacturing industries, supporting industries, logistics, and high-tech agriculture. Vietnam, with its strategic location in Southeast Asia, can function a gateway for Indian enterprises to develop their presence deeper into ASEAN, whereas India represents an enormous market with quickly rising client demand.
Science and know-how: a brand new driver for deeper cooperation
Scientific and technological cooperation has seen outstanding growth lately, regularly shifting from exchanges to extra substantive collaboration, tied to particular merchandise and developmental wants. Precedence areas of cooperation embrace info know-how, biotechnology, clear vitality, and digital transformation.
A number of consultant initiatives, such because the Satellite tv for pc Knowledge Receiving Station and Satellite tv for pc Picture Processing Heart, the Vietnam-India Nuclear Science Heart (Da Lat), the Military Software program Park (Nha Trang), and the Heart of Excellence in Software program Improvement and Coaching (CESDT), have been contributing to enhancing Vietnam’s technological capability. Notably, the Indian Technical and Financial Cooperation (ITEC) program continues to be an efficient channel for human useful resource coaching, serving to Vietnamese officers and consultants entry fashionable administration information and expertise.
In opposition to the backdrop of the vigorous Fourth Industrial Revolution, the potential for cooperation between the 2 nations stays huge. The 2 sides can develop their cooperation into rising areas reminiscent of Synthetic Intelligence, semiconductors, cybersecurity, fintech, and biotechnology, aiming for the targets of co-development and co-innovation.
Environmental cooperation and sustainable growth are regularly increasing
Within the context of more and more advanced local weather change, environmental cooperation between Vietnam and India is turning into an essential element of the bilateral agenda. Areas reminiscent of renewable vitality, water useful resource administration, round economic system, and disaster-resilient infrastructure are receiving rising consideration and promotion from either side.
Cooperation agreements in marine science, together with Fast Influence Tasks (QIPs) supporting communities, reminiscent of clear water provide, drought mitigation, and saline intrusion prevention within the Mekong Delta, have delivered sensible outcomes. Vietnam’s participation within the Coalition for Catastrophe Resilient Infrastructure (CDRI), initiated by India, additionally opens up alternatives to strengthen cooperation in sustainable infrastructure and local weather change adaptation.
Within the coming interval, areas encompassing photo voltaic vitality, vitality storage, waste administration, marine air pollution monitoring, and early warning programs for pure disasters are thought-about promising instructions for cooperation.
Prospects for cooperation
The prospects for cooperation within the coming interval are assessed as constructive. With the financial and scientific-technological complementarity, together with sturdy political will from either side, Vietnam-India relations have many favorable situations to develop extra strongly, notably in areas such because the digital economic system, inexperienced economic system, innovation.
Orientations for selling cooperation within the coming interval
With a basis of fantastic relations and important room for cooperation, the 2 nations have the premise to raise the Complete Strategic Partnership to a brand new top, making it more and more substantive and efficient within the new part, notably within the context of the 2 nations heading in direction of new high-level engagements with the state go to of Common Secretary and President To Lam to India in Could 2026.
To successfully capitalize on alternatives, either side have to proceed sustaining high-level exchanges, intergovernmental mechanisms and specialised dialogues, and additional translate strategic commitments into cooperation packages and initiatives with clear roadmaps and assets.
Within the financial subject, efforts needs to be intensified to take away commerce limitations, enhance logistics connectivity, and promote the assessment and upgrading of the ASEAN – India Commerce in Items Settlement (AITIGA); strengthen the event of large-scale funding initiatives in precedence areas reminiscent of prescribed drugs, the marine economic system, renewable vitality, and supporting industries.
Within the subject of science and know-how, establishing joint analysis cooperation mechanisms, strengthening linkages between analysis institutes, universities, enterprises, in addition to selling knowledgeable exchanges, know-how switch, and human useful resource coaching will play an essential position.
Within the environmental subject, efforts needs to be directed towards constructing a complete inexperienced cooperation framework, specializing in water administration, marine science, plastic air pollution discount, clear vitality, and disaster-resilient infrastructure, whereas additionally successfully leveraging regional initiatives such because the CDRI.
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