India and Vietnam on Wednesday (May 6, 2026) elevated their ties to an enhanced comprehensive strategic partnership and set a $25 billion annual trade target by 2030 as Prime Minister Narendra Modi and Vietnamese President To Lam held talks focusing on expanding bilateral ties in areas of trade, defence and critical minerals in the face of increasing geopolitical upheavals.
Vietnam President To Lam accorded ceremonial welcome at Rashtrapati Bhavan on his maiden visit to India
Following the meeting between Mr. Modi and Mr. Lam, the two sides signed as many as 13 agreements which will provide for deeper two-way engagement in a range of areas including digital payments, rare earth minerals, pharmaceuticals, education, banking and culture.
Mr. Modi and Mr. Lam also deliberated on the situation in the Indo-Pacific amid China's increasing assertiveness in the region and agreed to continue to contribute to the rule-of-law, peace, stability, and prosperity.
It is understood that China's growing military muscle-flexing in the South China Sea also figured in the delegation-level talks between the two sides.
