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Vietnam, India elevate ties; eye $25-bn trade

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India and Vietnam on Wednesday agreed to upgrade their bilateral relationship to an ‘Enhanced Comprehensive Strategic Partnership’, signalling a significant expansion of cooperation across trade, connectivity, security and cultural linkages.Prime Minister Narendra Modi made the announcement during a joint press statement with visiting Vietnamese leader To Lam, who is also the General Secretary of the Communist Party of Vietnam, following wide-ranging talks in New Delhi.Trade and economic engagement featured prominently in their discussions. While bilateral trade has already doubled over the past decade to reach $16 billion, both sides further set a target of reaching $25 billion trade by 2030.Agreements between the drug regulatory authorities of the two countries are further expected to improve access to Indian pharmaceuticals in Vietnam, while agricultural and fisheries exports from India will also see smoother entry into the Vietnamese market.In a symbolic boost to agri-trade, Modi said Vietnam would soon import Indian grapes and pomegranates, while India would open its market to Vietnamese durian and pomelo.The two sides also agreed to update the India-ASEAN Trade in Goods Agreement (AITIGA) by the end of the year, a move expected to enhance trade and investment flows between India and ASEAN countries.New initiatives in critical minerals, rare earths and energy cooperation were also discussed to strengthen economic security and supply chain resilience.Connectivity — both physical and digital — emerged as another pillar of the partnership, with Modi welcoming the steady expansion of air links between the two countries.The PM also announced steps to boost financial connectivity, including closer cooperation between central banks. India’s Unified Payments Interface (UPI) is also set to be linked with Vietnam’s fast payment system, facilitating seamless cross-border transactions.Both countries also agreed to strengthen sub-national cooperation through state-to-state and city-to-city partnerships.Describing Vietnam as a crucial pillar of India’s Act East Policy and Indo-Pacific vision, Modi said the two nations share a common outlook on regional security. He stressed that growing defence and security cooperation would contribute to peace, stability and a rules-based order in the Indo-Pacific.Earlier, welcoming To Lam on his first visit to India after assuming office, Modi said the visit — undertaken within a month of becoming President and accompanied by a high-level delegation and business leaders — reflected the priority Vietnam attaches to ties with India. He noted that the Vietnamese leader began his trip from Bodh Gaya, underlining the shared civilisational and spiritual heritage between the two countries.“Building on a strong foundation, we are now taking our partnership to higher goals,” Modi said, adding that cooperation would expand across culture, connectivity and capacity-building, as well as security, sustainability and supply chain resilience.Modi also highlighted the deep historical linkages, noting that over 15 million people in Vietnam had paid homage to Buddhist relics sent from India last year. He also announced plans to digitise manuscripts of the ancient Champa civilisation and continue restoration work at heritage temple sites in Vietnam, including My Son and Nhan Tower.The PM also thanked Vietnam for condemning the Pahalgam terror attack and for its support in India’s fight against terrorism.Against the backdrop of global economic uncertainty, Modi noted that both India and Vietnam were among the fastest-growing economies and could support each other’s growth trajectories through closer strategic alignment.Invoking the teachings of Lord Buddha, Modi said the partnership would be guided by shared values and mutual support. “We will walk together, grow together and succeed together,” he said.

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