India and Vietnam Set $25 Billion Trade Target by 2030

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NEW DELHI: Prime Minister Narendra Modi and Vietnamese President To Lam have finalized a strategic roadmap to elevate bilateral trade to $25 billion by 2030. The agreement was reached during President To Lam\'s state visit to India, which focused on deepening economic ties and defense cooperation.

Both leaders emphasized the importance of a ‘Comprehensive Strategic Partnership’ to navigate shifting global dynamics. Key sectors identified for growth include the digital economy, renewable energy, and resilient supply chains.

On the defense front, India reaffirmed its commitment to supporting Vietnam\'s military modernization through credit lines and joint training initiatives.

‘Vietnam is a crucial pillar of our Act East Policy’ PM Modi stated, highlighting that increased connectivity and maritime security cooperation are essential for a stable Indo-Pacific. The two nations also signed several MoUs to streamline trade procedures and promote mutual investment.

Photo Credits: AFP