South Asia is currently witnessing a rapid growth spurt, with a resurgence in investor interest despite the occasional geopolitical foible. India and Vietnam hold key positions in this region – on both trade and commerce as well as understanding on political and security issues.
As a member of the Association of Southeast Asian Nations (ASEAN), Vietnam is an important enabler for India’s growing trade and investment ties with the rest of Southeast Asia – the focus of India’s ‘Act East’ Policy.
In 2017, India and Vietnam celebrated 45 years since the two countries established diplomatic ties. To commemorate their growing partnership, Vietnamese President Tran Dai Quang visited India in early March this year.
During this official visit, Dai Quang discussed several areas of bilateral interest, including international security in maritime and cyberspace and strengthening regional trade engagement. A joint statement, issued after the visit points towards larger cooperation between the two countries in oil and gas exploration, manufacturing, and agricultural technology.
In this article, we offer a debrief on bilateral trade relations between India and Vietnam and examine the investment landscape for firms based in these countries.