India considers Vietnam as a key pillar of its Act East Policy and an important partner in its Indo-Pacific vision.
Key Outcomes of Visit
- Adoption of Plan of Action for implementation of the Comprehensive Strategic Partnership during the 2024-2028 period.
- MoUs were signed in fields of customs capacity building, agricultural research and education, legal field, radio and television, and medicinal plants.
- Agreement for extending US$ 300 million Line of Credit by India for defence procurement.
- Vietnam decided to join the Coalition for Disaster Resilient Infrastructure (CDRI).
- Both sides stated that they support evolution and not expansionism and will cooperate for a free, open and rules-based Indo-Pacific.
India-Vietnam Relations
- Historical: Established full diplomatic relations in 1972, elevated to Comprehensive Strategic Partnership in 2016.
- Development Cooperation: India is undertaking Quick Impact Projects under Mekong-Ganga Cooperation (MGC).
- India is undertaking restoration and conservation of My Son UNESCO World Heritage Site.
- Economic: India-Vietnam trade stood at USD 14.82 billion in FY24 where Indian exports to Vietnam were US$ 5.47 billion while Indian imports from Vietnam were US$ 9.35 billion.
- Defence cooperation: Joint Vision Statement on India-Vietnam Defence Partnership towards 2030 was signed in 2022.
- Joint Military Exercise VINBAX and Multilateral Naval Exercise MILAN.
