According to the Vietnam Trade Office in India, trade relations between Vietnam and India continue to grow strongly, playing a key role in bilateral cooperation with stable growth over the past 25 years.
From a turnover of only about 200 million USD in 2000, bilateral trade reached approximately 15 billion USD in 2024, an increase of 4.5% compared to 2023. Of which, Vietnam’s exports to India reached 9.06 billion USD, an increase of 7.6% compared to 2023, making India one of the eight most important trade partners of Vietnam.
At the same time, Vietnam also holds a solid position in the group of four ASEAN countries with the closest trade relations with India. Notably, in the South Asia region, India is Vietnam’s largest trade partner, accounting for nearly 80% of Vietnam’s total export revenue to this region.
Regarding Vietnam’s agricultural products, many items saw an increase in turnover in the Indian market in 2024. Specifically, tea increased by 18.7%; pepper was up 9.3%; wood and wood products, up 18%; aquatic products increased by 12%; rattan-bamboo-sedge products and carpets increased by 11%; rubber products increased by 11%; confectionery and cereal products, up 11.1%; coffee remained stable at 38.83 million USD; and animal feed and raw materials increased by 7.7%.
On the other hand, Vietnam’s imports from India decreased in many agricultural products: aquatic products decreased by 14.6%; animal feed and raw materials decreased by 62.4%; and fruits and vegetables decreased by 17.4%, among others.
Thus, it can be seen that Vietnam continued to expand its market share in the agricultural and food industry in India, making an important contribution to Vietnam’s trade surplus of 3.2 billion USD with India in 2024, an increase of 22.2% compared to 2023.
In 2025, in addition to traditional markets including the US, China, and Japan, expanding agricultural exports to India — the world’s 5th largest economy — is one of the effective directions to diversify consumption channels.
According to Vietnamese Trade Counsellor in India Bui Trung Thuong, the Indian market still has a lot of room for Vietnamese enterprises to exploit. On the other hand, the highly complementary structure of goods between the two countries will create a driving force to promote sustainable economic cooperation. It is important to deeply understand the market to focus on potential products.
Vietnamese enterprises need to pay special attention and proactively participate in fairs in India. Currently, fairs in India are organised on a large scale, with prestige and modernity, attracting businesses from all over the world. Many Vietnamese enterprises have signed large, long-term contracts after participating in these events.
Many conferences and fairs will continue to be organised by India, including the Kerala Global Investment Summit 2025, with a focus on seafood processing, spices, food technology, and consumer goods. Kerala is a state with a dynamic and populous economy in India with about 35 million people, highly appreciated for its business support policies, business facilitation, modern infrastructure, and quick approval process, helping to attract investment from within and outside the country. Vietnamese enterprises can find many opportunities for investment and business cooperation here.
Next is the Madhya Pradesh Global Investment Summit 2025 with the fisheries and agricultural sectors. Madhya Pradesh, also known as the “heart of India”, is the second largest state in India with a population of about 90 million people. This is an important event to promote economic, trade and investment cooperation between Madhya Pradesh and countries in the region and the world, including Vietnam.
Notably, the 7th ACT East Business Show is an important trade event organised by the Indian Chamber of Commerce. The exhibition is part of the Indian government’s Act East programme, aiming to exploit the potential of the Northeast region of India as a strategic gateway to Southeast Asian countries.
The exhibition’s key areas include many agricultural sectors such as: Forestry, processed food, handicrafts. This is a good opportunity for Vietnamese enterprises to explore the market, find partners and expand business activities in the Northeast region of India as well as Asian countries.
