Economic Relations and Investments
India’s investments in Vietnam are estimated at around US$ 1.9 billion including investments routed through third countries. According to Vietnam’s Foreign Investment agency, as of April 2021, India has 299 valid projects with total invested capital of US$ 909.5 million, ranking 26th among countries and territories investing in Vietnam. Significant sectors of Indian investment are energy, agro-processing, mineral exploration, agriculture, manufacturing, agrochemicals, IT and auto components.
Currently, India is one of the top 8th trading partners of Vietnam while Vietnam is the 15th largest trading partner of India and the fourth in Southeast Asia. Vietnam occupies the 101st position in FDI equity inflows into India with a cumulative FDI amount of US$ 5.35 million from April 2000 – September 2022.
Under the Mekong Ganga Cooperation (MGC) framework, India has been taking up Quick Impact Projects (QIPs), each valued at US$ 50,000, in different provinces of Vietnam for the development of community infrastructure. India has 317 valid projects worth over US$ 1 billion in Vietnam, ranking 23rd out of the 129 countries and territories investing in that country.