Two-way trade between Vietnam and India has grown annually by an average of over 20 percent, higher than trade growth between Vietnam and other nations, since the establishment of bilateral diplomatic ties in 1972, bilateral strategic partnership in 2007 and comprehensive strategic partnership in 2016.
Mobile phones, electronic spare parts are among Vietnam's exports to India (Photo: VNA)
Hanoi (VNA) –Two-way trade between Vietnam and India has grown annually by an average ofover 20 percent, higher than trade growth between Vietnam and other nations,since the establishment of bilateral diplomatic ties in 1972, bilateral strategicpartnership in 2007 and comprehensive strategic partnership in 2016.
India is now one of thetop 10 trading partners of Vietnam while Vietnam is the 15th biggesttrading partner of India and the fourth largest in ASEAN. Despite the COVID-19pandemic, two-way trade is likely to surpass 15 billion USD next year. In particular,National Assembly Chairman Vuong Dinh Hue’s ongoing visit to India will mark animportant milestone in bilateral relationship in new normal.
According to the Ministry ofIndustry and Trade’s Department of Asian Market, India is the most importantmarket of Vietnam🌱 in South Asia, with two-way trade accounting for around 80percent of Vietnam’s total trade with South Asian nations. From 5.5 billion USDin 2016, trade between the two countries surged to 11.2 billion USD in 2020 andis expected to surpass 13 billion USD next year, a record figure.
In ten months of thisyear, the figure reached approximately 11 billion USD, up 37.7 percentyear-on-year.
Vietnam is the second largest supplier of natural rubber to India (Photo: tapchicongthuong.vn)
As of October, Indian firmsinvested in 310 projects with a total registered capital of 910.29 million USDin Vietnam, placing India 26th out of 141 countries and territoriesinvesting in the country.
Vietnamese CommercialCounsellor Bui Trung Thuong said during the NA Chairman’s visit, the VietnamTrade Office under the Vietnamese Embassy in India will work closely withministries and agencies, and the Federation of Industries of India to hold 15trade promotion programmes in various areas. He hoped that more deals will bereached during the events.
A representative from theMinistry🀅 of Industry and Trade said the ministry will continue fine-tuningpolicies and mechanisms to attract investment from India, one of thetrustworthy and top priority▨ partners of Vietnam./.
Deputy Minister of Foreign Affairs Nguyen Quoc Dung highlighted effective cooperation between Vietnam and India at international and regional forums and within the frameworks of ASEAN and Greater Mekong Sub-region at a virtual workshop on August 12.
The Vietnamese Embassy in Indian in coordination with authorirites of Bangalore, the capital city of Karnataka state of India held a Vietnam-India investment and startup forum on August 18.
The beauty of Vietnamese ao dai (traditional long dress) and Indian saree was spotlighted at a seminar jointly held by the Vietnam – India Friendship Association in Hanoi and Swami Vivekananda Culture Centre under the Indian Embassy in Hanoi on November 18.
Vietnamese Deputy Minister of Foreign Affairs Nguyen Quoc Dung and Secretary of the Ministry of External Affairs of India Riva Ganguly Das co-chaired the 11th political consultation and the eighth strategic dialogue between the two foreign ministries via videoconference on November 12.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
Mobile phones, electronic spare parts are among Vietnam's exports to India (Photo: VNA) 
Vietnam is the second largest supplier of natural rubber to India (Photo: tapchicongthuong.vn) 
