In 2024, the 2 sides adopted an Action Plan to implement the Comprehensive Strategic Partnership for the 2024-2028 interval. This doc not solely consolidates conventional areas of cooperation but in addition expands into new domains resembling science and expertise, innovation, digital transformation, vitality and sustainable improvement.
Economy continues to be a brilliant spot in bilateral cooperation
Over the previous decade, Vietnam-India financial cooperation has recorded vital constructive developments. Bilateral commerce turnover has maintained regular progress, growing from over USD 14 billion in 2023 to almost USD 16.5 billion in 2025, reflecting the more and more shut integration between the 2 dynamic Asian economies.
The construction of two-means 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 necessary provider of metal, prescription drugs, chemical substances, and textiles to Vietnam.
Amid the continued restructuring of worldwide provide chains, each Vietnam and India are intensifying efforts to diversify their companions and scale back dependency dangers. This creates vital room for the 2 nations to advertise provide chain linkages in areas resembling processing and manufacturing industries, supporting industries, logistics, and excessive-tech agriculture. Vietnam, with its strategic location in Southeast Asia, can function a gateway for Indian enterprises to increase their presence deeper into ASEAN, whereas India represents an enormous market with quickly growing shopper demand.
Science and expertise: a brand new driver for deeper cooperation
Scientific and technological cooperation has seen exceptional improvement not too long ago, progressively shifting from exchanges to extra substantive collaboration, tied to particular merchandise and developmental wants. Priority areas of cooperation embrace data expertise, biotechnology, clear vitality, and digital transformation.
Several consultant tasks, such because the Satellite Data Receiving Station and Satellite Image Processing Center, the Vietnam-India Nuclear Science Center (Da Lat), the Army Software Park (Nha Trang), and the Center of Excellence in Software Development and Training (CESDT), have been contributing to enhancing Vietnam’s technological capability. Notably, the Indian Technical and Economic 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.
Against the backdrop of the vigorous Fourth Industrial Revolution, the potential for cooperation between the 2 nations stays huge. The two sides can increase their cooperation into rising areas resembling Artificial Intelligence, semiconductors, cybersecurity, fintech, and biotechnology, aiming for the objectives of co-improvement and co-innovation.
Environmental cooperation and sustainable improvement are progressively increasing
In the context of more and more complicated local weather change, environmental cooperation between Vietnam and India is turning into an necessary part of the bilateral agenda. Areas resembling renewable vitality, water useful resource administration, round financial system, and catastrophe-resilient infrastructure are receiving rising consideration and promotion from each side.
Cooperation agreements in marine science, together with Quick Impact Projects (QIPs) supporting communities, resembling clear water provide, drought mitigation, and saline intrusion prevention within the Mekong Delta, have delivered sensible outcomes. Vietnam’s participation within the Coalition for Disaster Resilient Infrastructure (CDRI), initiated by India, additionally opens up alternatives to strengthen cooperation in sustainable infrastructure and local weather change adaptation.
In the approaching interval, areas encompassing photo voltaic vitality, vitality storage, waste administration, marine air pollution monitoring, and early warning methods for pure disasters are thought of 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 each side, Vietnam-India relations have many favorable situations to develop extra strongly, significantly in areas such because the digital financial system, inexperienced financial system, innovation.
Orientations for selling cooperation within the coming interval
With a basis of wonderful relations and vital room for cooperation, the 2 nations have the idea to raise the Comprehensive Strategic Partnership to a brand new peak, making it more and more substantive and efficient within the new part, significantly within the context of the 2 nations heading in direction of new excessive-degree engagements with the state go to of General Secretary and President To Lam to India in May 2026.
To successfully capitalize on alternatives, each side have to proceed sustaining excessive-degree exchanges, intergovernmental mechanisms and specialised dialogues, and additional translate strategic commitments into cooperation packages and tasks with clear roadmaps and sources.
In the financial area, efforts ought to be intensified to take away commerce limitations, enhance logistics connectivity, and promote the overview and upgrading of the ASEAN – India Trade in Goods Agreement (AITIGA); strengthen the event of huge-scale funding tasks in precedence areas resembling prescription drugs, the marine financial system, renewable vitality, and supporting industries.
In the sector of science and expertise, establishing joint analysis cooperation mechanisms, strengthening linkages between analysis institutes, universities, enterprises, in addition to selling skilled exchanges, expertise switch, and human useful resource coaching will play an necessary function.
In the environmental area, efforts ought to be directed towards constructing a complete inexperienced cooperation framework, specializing in water administration, marine science, plastic air pollution discount, clear vitality, and catastrophe-resilient infrastructure, whereas additionally successfully leveraging regional initiatives such because the CDRI.
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