Geetesh Sharma – A Lifelong Friend of Vietnam
	India-Vietnam Joint Trade Sub-Commission Seeks to Connect Major Industries

The conference was co-organized by the Ha Noi Union of Friendship Organizations, the Institute for South Asian, West Asian and African Studies under the Vietnam Academy of Social Sciences, the Embassy of India in Vietnam, and the Vietnam-India Friendship Association of Hanoi.

International Conference: "Promoting Friendly Relations Towards a Vietnam-India Comprehensive Economic Partnership" (Photo: Mai Anh)

Participants included Ngo Le Van, Deputy Minister of Foreign Affairs; Assoc. Prof. Dr. Ta Minh Tuan, Vice President of the Vietnam Academy of Social Sciences; Tshering W. Sherpa, Ambassador of India to Vietnam; Nguyen Ngoc Ky, President of the Hanoi Union of Friendship Organizations; along with many scholars and experts from universities and research institutes of both Vietnam and India.

At the conference, delegates exchanged views and discussed prospects for promoting bilateral economic cooperation in the new phase. Presentations focused on key issues in Vietnam-India trade, comparative advantages of the two economies, and potential areas for cooperation. Delegates also shared experiences, identified barriers in trade and investment, and proposed initiatives to strengthen business connectivity, enhance two-way economic cooperation, and work toward establishing a comprehensive economic partnership framework between Vietnam and India in the future.

According to Assoc. Prof. Dr. Ta Minh Tuan, since establishing diplomatic relations in 1972, and especially after the two countries upgraded ties to a Comprehensive Strategic Partnership in 2016, bilateral cooperation has expanded across many fields. During the 2016-2025 period, bilateral trade turnover between Vietnam and India tripled from 5.4 billion USD to 16.4 billion USD. However, compared with the development potential and the growing international standing of both countries, economic cooperation has yet to match the depth of their political relations and strategic development needs. There remains significant room for cooperation, particularly in high technology, the digital economy, artificial intelligence, green energy transition, infrastructure connectivity and new supply chains.

Assoc. Prof. Dr. Ta Minh Tuan, Vice President of the Vietnam Academy of Social Sciences. (Photo: Mai Anh)

Tuan noted that the two economies are highly complementary. India has strengths in information technology, pharmaceuticals, space technology and renewable energy, while Vietnam is an important manufacturing and export hub in global value chains, with an improving investment environment and an extensive network of free trade agreements.

Some experts believe that to create new momentum for bilateral economic cooperation, Vietnam and India should place greater emphasis on high-tech sectors and emerging economic industries.

Prof. Sonu Trivedi from the Department of Political Science at Zakir Husain College, University of Delhi, noted that economic relations between the two countries have largely relied on traditional trade items such as agricultural products, seafood, spices, textiles and electronic components. However, amid the rapid development of the digital economy, both countries have opportunities to expand cooperation into higher value-added and technology-intensive sectors such as the digital economy, artificial intelligence, renewable energy, semiconductors, strategic minerals, pharmaceuticals and innovation ecosystems.

According to Prof. Sonu Trivedi, effectively tapping this potential requires linking sectoral cooperation with scientific and technological innovation and promoting bilateral technology transfer mechanisms. At the same time, developing digital infrastructure and harmonizing regulations on digital trade could help reduce non-tariff barriers and create more favorable conditions for businesses, especially small and medium-sized enterprises, to participate more deeply in cross-border e-commerce.

Prof. Sonu Trivedi, Department of Political Science, Zakir Husain College, University of Delhi. (Photo: Mai Anh)

In addition, the two countries could consider establishing mechanisms to facilitate investment, such as a bilateral investment agreement, preferential investment zones, or joint investment promotion agencies to improve the investment environment and strengthen business connections. Building joint research programs, bilateral funding mechanisms for R&D projects, and intellectual property protection frameworks would also help foster innovation ecosystems between the two nations.

One initiative worth considering is the creation of an India-Vietnam Green Technology Corridor to connect renewable energy companies, clean technology firms and green transition projects. Furthermore, as Vietnam possesses considerable rare earth reserves and India is rapidly developing its semiconductor industry, the two countries could promote cooperation initiatives in strategic minerals and the semiconductor industry. This would help build sustainable high-tech supply chains and reduce dependence on single sources of supply in global markets.

These cooperation proposals in high technology and new supply chains also open up possibilities for expanding Vietnam–India cooperation in a multilateral direction, linked with major economic partners in the region and around the world.

From a broader perspective, Prof. Reena Marwah from Jesus and Mary College, University of Delhi, noted that as global supply chains are being restructured, Vietnam and India can strengthen cooperation with other partners to build more sustainable and flexible supply chains. Recent developments, such as Vietnam upgrading its Comprehensive Strategic Partnership with the EU and India concluding an FTA with the EU, are not merely separate bilateral steps but could serve as mutually reinforcing pillars of a new cooperative structure in the Indo-Pacific region.

Prof. Reena Marwah, Jesus and Mary College, University of Delhi. (Photo: Mai Anh)

India could contribute market scale, public digital infrastructure and technological human resources; Vietnam offers advantages in manufacturing, supply chain flexibility and connectivity within ASEAN; while the EU can provide capital, technology, regulatory standards and sustainable development frameworks. Together, this combination would create a complementary cooperation structure rather than direct competition.

To achieve this, the three sides should focus on several concrete directions. First, existing trade frameworks should be linked with cooperation programs in technology, investment, connectivity and green transition instead of operating separately. In addition, joint ventures should be encouraged in strategic sectors such as semiconductors, critical raw materials, pharmaceuticals, digital infrastructure, clean energy and green logistics.

However, for a trilateral model to operate effectively, the parties must address existing barriers, including differences in standards and regulations, data-related issues, institutional coordination capacity and geopolitical pressures from the external environment. The success of such a framework will depend on strong political will, flexible coordination mechanisms and the selection of impactful projects that are feasible and scalable in the future.

According to experts, if effectively promoted, new areas of cooperation in high technology, innovation and strategic supply chains will not only help diversify bilateral trade structures but also create a stronger foundation for Vietnam–India economic relations in the coming period.

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