New Delhi and Hanoi formalize 13 agreements during state visit.
India and Vietnam officially upgraded their bilateral relationship to an Enhanced Comprehensive Strategic Partnership following high-level talks in New Delhi. Prime Minister Narendra Modi and Vietnamese President To Lam oversaw the signing of 13 Memorandums of Understanding (MoUs) designed to strengthen security, digital infrastructure, and trade. This diplomatic surge aims to achieve a bilateral trade volume of USD 25 billion by the year 2030.
Advancing Technology and Rare Minerals
Economic cooperation now extends into the critical sector of rare earth elements. IREL (India) Ltd and Vietnam’s Institute for Technology of Radioactive and Rare Elements (ITRRE) formalised a pact to collaborate on these vital resources. This move aligns with global efforts to secure supply chains for high-tech manufacturing and green energy. Additionally, both nations are integrating their financial sectors. The Reserve Bank of India and the State Bank of Vietnam agreed to foster innovation in digital payments, while NPCI International and Vietnam's NAPAS will work on cross-border QR code interoperability.
Cultural Roots and Urban Synergy
Historical ties received a significant boost with a five-year cultural exchange program spanning 2026 to 2030. Interestingly, India's connection with Vietnam dates back centuries through the Cham civilization, which practiced Shaivism. A new initiative will focus on digitizing Cham manuscripts of Indian origin. Furthermore, India announced the establishment of a Site Interpretation Centre at the My Son UNESCO World Heritage Site, a cluster of ancient Hindu temples in central Vietnam.
Strategic Regional Stability
Vietnam's decision to join the Indo-Pacific Oceans Initiative (IPOI) marks a notable shift in regional security dynamics. Discussions at Hyderabad House also touched upon maritime safety and defense. Local administrative cooperation is also on the cards, with Mumbai and Ho Chi Minh City signing an agreement to share expertise in urban management.
Educational and agricultural sectors were not left behind. Nalanda University will facilitate capacity building for Vietnamese officials, and two new Indian Studies chairs will be established in Vietnamese universities. On the trade front, Indian grapes will now find their way to Vietnamese markets, while Vietnamese Durian will be exported to India, diversifying the agricultural baskets of both nations.
Inputs from Agency Threads and Image Courtesy: ANI
