The trade counselor said bilateral trade reached a record of nearly 16.5 billion USD in 2025, with Vietnam’s exports rising by almost 15% to exceed 10 billion USD. He noted that growth was driven primarily by the sustained performance of key product groups and a higher share of goods with greater technological content and added value.
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Vietnamese Trade Counselor in India Bui Trung Thuong |
Notably, the private sector, particularly small- and medium-sized enterprises, which account for 97–98% of businesses in both countries, played a pivotal role, he said, adding that policies introduced by Vietnam’s Party and State to promote private-sector development, together with the “Go Global” strategy, have created strong momentum for businesses to actively seek investment opportunities and expand import – export activities in the Indian market.
High-tech products and foreign-invested enterprises remained pillars of the bilateral trade. Meanwhile, consumer goods such as wooden furniture, footwear and textiles, which faced difficulties in major markets, recorded strong growth in India, underscoring the increasingly complementary nature of the two economies.
India, Thuong noted, can serve as an important gateway for Vietnamese firms seeking to diversify export markets, especially for agricultural and food products.
The trade counselor said Indian businesses were impressed by the scale and international-standard organization of trade fairs in Vietnam, including the Spring Fair 2026 and the 2025 Autumn Fair, which feature up to 3,000 booths across more than 100,000 sq.m.
The integration of trade promotion with services and cultural promotion has marked an important shift, reshaping Indian businesses’ perceptions of Vietnam from a processing hub to a country with growing capabilities in design, manufacturing and brand development. As a result, many Indian firms are considering deeper cooperation, from supplying raw materials to importing finished products from Vietnam, he noted.
Looking ahead, the Vietnamese Trade Office in India will focus on strengthening substantive trade promotion and expanding investment cooperation, including organizing more two-way business delegations and promoting bilateral investment as a key driver of trade growth, Thuong stated.
India is currently the world’s fourth-largest economy and has the potential to rise to third place in the coming years, creating vast room for cooperation. Ongoing institutional reforms by the Indian government to improve the investment climate are also seen as an opportunity for Vietnamese businesses to expand their presence in the market.
If trade promotion and investment are pursued in tandem, bilateral trade could realistically reach 20–30 billion USD, or even 50 billion USD in the future, he said.
Source: VNA