According to Vietnamese Trade Counselor in India Bui Trung Thuong, Vietnam maintained a trade surplus during the period, with exports standing at nearly US$6 billion and imports at about US$4 billion.

Key staples, notably coffee, sustained strong growth, while Vietnamese agricultural and aquatic products increasingly won the trust and preference of Indian consumers.

Another highlight in bilateral trade was the growth in items where both countries participate in the global value chain, such as mobile phones, components, and machinery. This demonstrates the complementary nature of the two economies and growing Vietnamese business interest in the Indian market.

Economic and trade agreements signed during the State visit to India by General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam in early May have injected fresh momentum into bilateral economic ties, which are gradually materializing into concrete outcomes. VinFast's initial success in entering the demanding Indian market illustrates that investment naturally drives trade, particularly in the automotive sector.

Despite these positive developments, bilateral trade faces certain hurdles, notably the lack of a bilateral trade agreement and rigorous technical standards enforced by India, which pose challenges for Vietnamese enterprises seeking Bureau of Indian Standards (BIS) certifications for industrial goods or food safety approvals.

Nevertheless, the target of bringing bilateral trade turnover to US$25 billion by 2030 is ambitious yet entirely achievable with strong joint determination. This confidence is underpinned by unexploited economic complementarities and the pioneering role of leading enterprises paving the way for smaller businesses to explore the Indian market.

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