# India, Vietnam deepen strategic ties, set $25 bn bilateral trade target for 2030.

*business · news · 2026-05-06 · Times of India*

## Key points

- India and Vietnam upgraded their relationship to an enhanced comprehensive strategic partnership in June 2024.
- The countries signed a rare earths cooperation MoU to reduce supply chain dependence on China.
- A $25 billion annual bilateral trade target has been set for 2030 with new facilitation measures.
- India offered maintenance, repair, and overhaul support for Vietnam's Sukhoi 30 jets and Kilo submarines.
- Both sides agreed to update the ASEAN India Trade in Goods Agreement (AITIGA) by end of 2024.

**Countries:** India, Vietnam

[Read the full story on Times of India](https://timesofindia.indiatimes.com/business/india-business/focus-on-trade-and-defence-india-vietnam-upgrade-ties-reaffirm-commitment-to-freedom-of-navigation-target-25-billion-trade/articleshow/130867644.cms)

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