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Vietnam is increasingly seen as a strategic gateway for Indian investors, offering opportunities to deepen ties with ASEAN and extend business reach across the Asia-Pacific region. Over more than five decades of diplomatic relations since 1972 and a decade of upgrading ties to a Comprehensive Strategic Partnership from 2016 to 2026, Vietnam and India have expanded cooperation across economics and trade, energy, technology, and defense.
Data from the Foreign Investment Department (Ministry of Finance) shows that India currently has 503 active investment projects in Vietnam, with total registered capital of over $1.17 billion. This places India at 26th among investing countries and territories.
In the first quarter of this year, Indian investors began 30 new projects in Vietnam with registered capital totaling over $95.22 million. This is eight times higher than the same period last year, when the first three months of 2025 recorded just over $10.76 million.
Indian investment is concentrated in sectors where Indian companies have established strengths, including processing and manufacturing; electricity generation and distribution; and mining. The investment footprint is gradually building in several key areas of Vietnam’s economy.
While project scales remain modest, the participation of major Indian investors—including Tata Group, KCP, CCL Products, and HCL Technologies—signals an expanding presence, particularly in agro-industry processing, information technology, and energy.
Vietnam has also attracted growing interest from leading Indian groups. In a mid-2025 meeting with General Secretary To Lâm, Adani Group’s chairman said the company wants to implement long-term strategic investments in Vietnam with a potential total scale of up to $10 billion. The proposed focus includes infrastructure, energy, renewable energy, and advanced technologies such as AI.
In early April, a business delegation from the Indian Industry Federation (CII) visited Vietnam to explore new investment cooperation opportunities across infrastructure, energy, information technology, manufacturing, high-tech agriculture, and the supply chain.
Bilateral trade has also grown. In 2025, Vietnam–India trade reached $16.46 billion, up 10.5% year-on-year. Both sides are working toward a near-term target of $20 billion in bilateral trade.
Despite the progress, the structure of Indian investment in Vietnam still lacks leading, large-scale projects, indicating room for further cooperation as the relationship deepens. Both countries share advantages including a young demographic, an entrepreneurial culture, and a society focused on development.
This creates a foundation to move beyond traditional cooperation into knowledge- and technology-intensive areas such as IT and telecommunications, innovation, science and technology, cybersecurity, artificial intelligence, quantum technology, pharmaceuticals, and automotive industries.
According to S. Chinpau Ngaihte, Economic & Commercial Secretary at the Indian Embassy, recent geopolitical shifts—especially risks in the Middle East disrupting traditional sea routes—are encouraging global businesses to look for alternative connectivity corridors. In this context, Vietnam’s geographic position is viewed as a key gateway linking India to ASEAN and the broader Asia-Pacific region.
Beyond bilateral cooperation, there is potential for collaboration within multilateral frameworks, particularly in ASEAN-plus mechanisms such as the ASEAN-India Defense Ministers’ Meeting (ADMM+) and ASEAN-India maritime cooperation initiatives.
In 2026, designated as the ASEAN–India Maritime Cooperation Year, cooperation is expected to be further promoted in areas including maritime security, information sharing, humanitarian assistance, disaster management, blue economy development, and coordination between coast guards and navies, both bilaterally and with business communities.
During the state visit to India by Vietnamese Party General Secretary and State President To Lâm from May 5–7, 2026, economic cooperation between the two countries is expected to enter a new phase, with strategic cooperation directions becoming more concrete—supporting investment flows, expanding trade, and strengthening bilateral economic linkages.
Vingroup signed an MOU with Maharashtra State, committing to $6.5 billion of investment in India (April 10, 2026).
Cooperation across multiple sectors continues to deepen between Vietnamese and Indian enterprises. FDI into Vietnam surpassed $18 billion in the first four months of 2026.
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