According to the Ministry of Foreign Affairs, Vietnam and India upgraded their relationship to a Comprehensive Strategic Partnership in September 2016.
Since then, bilateral cooperation has developed steadily and in greater depth. In 2025, total trade turnover between the two countries reached US$16.46 billion, up 10.5 percent from 2024.
In the first three months of 2026 alone, bilateral trade reached US$4.8 billion, up 28 percent year-on-year.
In terms of investment, as of March 2026, India had 503 projects in Vietnam with a total registered capital exceeding US$1.1 billion. These projects are mainly concentrated in processing and manufacturing industries, electricity production and distribution, gas and mining.
Indian investors are currently present in 20 provinces and cities across Vietnam, with Ho Chi Minh City leading the list with 348 projects worth US$377.8 million. Other key destinations include Dak Lak, Khanh Hoa, Thanh Hoa, Tay Ninh, Nghe An and Phu Tho.
Meanwhile, Vietnam has invested in 30 projects in India, with a total capital of nearly US$150.5 million.
Defense and security cooperation remains a key strategic pillar. The two defense ministries are coordinating to implement defense credit packages and non-refundable aid provided by the Indian government to Vietnam.
In education and training, India is currently offering 150 scholarships annually to Vietnamese students under the Indian Technical and Economic Cooperation (ITEC) program, along with additional scholarship schemes.
