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India-Vietnam Economic & Commercial Relations

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 statistics in 2019-20, bilateral trade reached US$12.34 billion. This marked a decrease of 9.9 percent year-on-year, largely on account of COVID-19 related trade disruptions. For India, Vietnam is the 18th largest trading partner globally and within ASEAN, the 4th largest trading partner after Singapore, Indonesia and Malaysia. For Vietnam, India is the 7th largest trading partner, 7th largest source of import and 9th largest export market globally. In 2019-20, five key items imported into India from Vietnam included mobile phones and components, machinery, computers & electronic hardware, natural rubber, chemicals and coffee. Key items exported from India to Vietnam were meat and fishery products, corn, steel, pharmaceuticals, cotton and machinery.

Profile of India’s bilateral trade with Vietnam over 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 June 2020, India has 278 valid projects with total invested capital of US$ 887.27 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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