India and Vietnam deepened bilateral engagement during the state visit of President To Lam, with the two sides signing 13 Memorandums of Understanding (MoUs) and making five key announcements to expand cooperation across sectors.
According to the Ministry of External Affairs, both countries agreed to elevate their relationship to an Enhanced Comprehensive Strategic Partnership, alongside setting a new bilateral trade target of USD 25 billion by 2030.
Among the key agreements, an MoU between IREL (India) Limited and Vietnam’s Institute for Technology of Radioactive and Rare Elements aims to boost collaboration in rare earths and emerging technologies. Another pact between the Reserve Bank of India and the State Bank of Vietnam focuses on cooperation in digital payments and financial innovation.
Both sides also signed agreements spanning digital technologies, tourism, public sector audit, urban cooperation between Mumbai and Ho Chi Minh City, and academic exchanges, including the establishment of India Studies Chairs under the Indian Council for Cultural Relations in Vietnamese universities.
A Cultural Exchange Programme for 2026–2030 was also agreed upon, aimed at strengthening people-to-people ties, while cooperation in digitisation of Cham manuscripts of Indian origin was formalised.
Vietnam announced its participation in the Indo-Pacific Oceans Initiative, and both sides agreed to expand agricultural trade, including exports of Indian grapes to Vietnam and Vietnamese durian to India. Plans were also unveiled to establish a site interpretation centre at the UNESCO World Heritage site of My Son in central Vietnam.
Prime Minister Narendra Modi held wide-ranging talks with President To Lam at Hyderabad House, covering defence, trade, science and technology, maritime cooperation, renewable energy and cultural linkages.
