India's Prime Minister Narendra Modi (L) shakes hands with Vietnam's President To Lam before their meeting at the Hyderabad House in New Delhi on May 6, 2026. (Photo by Sajjad Hussain / AFP)
New Delhi, India: India and Vietnam are looking to ramp up bilateral trade to $25 billion by 2030, Prime Minister Narendra Modi said Wednesday, following talks with President To Lam in New Delhi.
"Bilateral trade between India and Vietnam has doubled in the last decade and reached $16 billion. Today, we have taken several important decisions to take it to $25 billion by 2030," Modi said in a speech.
"We will take our cooperation to new hights."
Lam, on his first visit to India as president, said the two countries "will elevate defence and security cooperation" and contribute to "strengthening an environment of peace and stability".
Both sides said the discussions focused on sectors like education, rare earth minerals and digital payment systems, reflecting "the enhanced comprehensive strategic partnership between India and Vietnam", according to Modi.
Lam is accompanied by a large business delegation, and is also due to visit India's financial hub Mumbai.
On Thursday, Lam will leave for Sri Lanka for a two-day visit that will focus on trade, investment and tourism, Colombo said in a statement.
