India and Vietnam have formalized a trade roadmap targeting $25 billion in bilateral trade by 2030, Prime Minister Narendra Modi announced after talks with Vietnamese President To Lam in New Delhi. The agreement was sealed with the exchange of multiple Memoranda of Understanding at Hyderabad House, covering pharmaceuticals, agricultural exports, and financial connectivity.

The MoU between drug regulators will facilitate greater access for Indian medicines in Vietnam, while new agreements will ease exports of Indian grapes, pomegranates, fisheries, and animal products. Vietnam will begin exporting pomelos to India, with both sides confirming the move will benefit consumers and producers shortly.

Both nations agreed to strengthen cooperation in critical minerals, rare earths, and energy to bolster supply chain resilience. Enhanced air connectivity and infrastructure collaboration were highlighted as key pillars of the growing partnership.

Financial integration will be advanced through increased cooperation between the Reserve Bank of India and Vietnam's central bank. India also committed to updating the India-ASEAN Trade in Goods Agreement by year-end to improve regional market access.

The next steps include implementing the signed MoUs and advancing sectoral dialogues, with officials expected to convene in the coming months to monitor progress on trade and investment goals.