India targeting $31b trade with Vietnam by 2030, PM Modi says
Vietnam's President To Lam and Indian Prime Minister Narendra Modi walk during his ceremonial reception at Rashtrapati Bhavan in New Delhi, India, on May 6, 2026.
PHOTO: Reuters
NEW DELHI - India is targeting trade worth US$25 billion (S$31 billion) with Vietnam by 2030, Prime Minister Narendra Modi said on Wednesday (May 6) after talks with Vietnamese President To Lam, who is on his first visit to New Delhi.
"Through new initiatives in critical minerals, rare earths, and energy co-operation, we will ensure the economic security and supply chain resilience of both countries," Modi told reporters, as the two countries upgraded their relationship to an 'enhanced comprehensive strategic partnership'.
Trade between India and Vietnam crossed US$16 billion in the Indian fiscal year that ended in March 2026.
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