New milestones in Vietnam – India trade

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.
New milestones in Vietnam – India trade ảnh 1Mobile 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.

New milestones in Vietnam – India trade ảnh 2Vietnam 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./.

VNA

See more

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.

Representatives from Lao and Vietnamese agencies at the signing ceremony. (Photo: VNA)

Vietnam, Laos strengthen energy cooperation

A 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province is expected to export 1,526 kWh to Vietnam annually once its first phase completes by the end of 2027, and additionally 1,112 million kWh per year after its second phase becomes operational in 2030./

A view of the Hanoi skyline. While rental properties continue to be in demand, there has also been a notable rise in the number of foreigners looking to buy houses. (Photo: VNA)

Housing demand from foreigners in Hanoi rises

Over several years, Hanoi has increasingly become an attractive destination for foreign workers, with approximately 10,000 new foreign workers are granted licences to work in the city each year.