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India-Vietnam Economic & Commercial Relations

Bilateral Trade

From a meagre US$200 million in the year 2000, bilateral trade between India and Vietnam has seen steady growth over the years.  According to Indian data in 2018-19, bilateral trade reached US$13.69 billion, registering an increase of 6.76 percent year on year. As per Indian data, bilateral trade for the period April-December 2019 reached US$ 9.89 billion. Total trade value between the two countries accounts for 1.62 percent of India’s total foreign trade.  For India, Vietnam is the 18th largest trading partner and 14th largest export destination globally.  Within ASEAN, Vietnam is the third largest export destination for Indian products after Singaporeand Malaysia, and is the 4th largest trading partner afterSingapore,Indonesia and Malaysia.   For Vietnam, India is now the 7th largest trading partner, 7th largest source of import and 9th largest export marketglobally.  In 2018-19, five key items exported to India from Vietnam included mobile phones and components, machinery, computers & electronic hardware, natural rubber, chemicals and coffee. Key items exported to Vietnam from India were meat and fishery products, corn, steel, pharmaceuticals, cotton and machinery.

Bilateral trade profile for the last few years is shown below.

For detailed trade statistics, please visit the website of Department of Commerce, Government of India at:
https://commerce.gov.in/InnerContent.aspx?Type=TradeStatisticsmenu&Id=254

Bilateral Investments

India’s investments in Vietnam are estimated at around US$ 1.9 billion including investments routed through third countries. According to Vietnam’s Foreign Investment Agency, as of 2019, India has 255 valid projects with total invested capital of US$922.34 million, ranking 26th among countries and territories investing in Vietnam. Major sectors of investment are energy, mineral exploration, agro-processing, sugar, tea, coffee manufacturing, agro-chemicals, IT and auto components. As of 2019, Vietnam has six investment projects in India with total estimated investment of US$ 28.55 million, primarily in the areas of pharmaceuticals, information technology, chemicals and building materials.

 

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17February 2020