BRICS Summit 2026: India, Vietnam Target $25 Billion Bilateral Trade By 2030

Prime Minister Narendra Modi held discussions with Vietnamese Prime Minister Lee Minh Hung in New Delhi on Saturday during the 18th BRICS Summit.

The meeting focused on expanding bilateral cooperation while reinforcing the strategic importance of the India-Vietnam relationship.

PM Modi outlined several areas where New Delhi and Hanoi intend to increase collaboration, including defence and security.

Taking to X, PM Modi posted, “Met Prime Minister Lê Minh Hưng of Vietnam on the sidelines of the BRICS Summit. We had productive discussions on: Deepening defence and security cooperation, including the proposed 2+2 mechanism. Expanding cooperation in energy, rare earths and space. Working towards $25 billion bilateral trade by 2030 and greater two-way investment. Strengthening our deep cultural and civilisational linkages. Vietnam will always remain a key pillar of India’s Act East Policy and MAHASAGAR vision.”

Met Prime Minister Lê Minh Hưng of Vietnam on the sidelines of the BRICS Summit.

We had productive discussions on:

Deepening defence and security cooperation, including the proposed 2+2 mechanism.

Expanding cooperation in energy, rare earths and space.

Working towards $25… pic.twitter.com/VMGO9uMfw6

— Narendra Modi (@narendramodi) September 12, 2026

The two Prime Ministers reaffirmed their intention to further develop bilateral ties and exchanged views on regional and international developments of mutual interest.

The Ministry of External Affairs said both sides reviewed the progress made since the relationship became an Enhanced Comprehensive Strategic Partnership during Vietnamese leader To Lam’s State Visit to India in May 2026.

The leaders discussed increasing two-way investment and working towards bilateral trade worth USD 25 billion by 2030. They identified energy, rare earths and space as important areas for future collaboration, alongside longstanding cultural and civilisational connections.

PM Modi welcomed Vietnam’s participation in the BRICS Summit as a partner country and met members of the Vietnamese delegation before beginning his discussions with Hung.

The MEA described Vietnam as an important partner in India’s engagement with Southeast Asia and highlighted the countries’ longstanding friendship, mutual trust and shared civilisational heritage.

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