India and Vietnam have reaffirmed their commitment to strengthening cooperation in critical and emerging technologies as part of their Enhanced Comprehensive Strategic Partnership. Recognizing the transformative role of digital innovation in economic growth and sustainable development, both countries agreed to expand collaboration across a wide range of technology domains.
A key development is the signing of a Memorandum of Understanding between the Reserve Bank of India and the State Bank of Vietnam on financial innovation and digital payments. The partnership aims to facilitate linkages between retail payment platforms through QR code-based systems, making cross-border tourism and business transactions more seamless.
The two countries will enhance collaboration in Digital Public Infrastructure (DPI), 6G communications, Artificial Intelligence (AI), space technology, nuclear technology, marine sciences, biotechnology, pharmaceuticals, advanced materials, and critical minerals. Cooperation will focus on practical initiatives including joint research projects, establishment of R&D centres, technology development, and innovation-driven partnerships.
India and Vietnam also agreed to promote the use of digital and advanced technologies in climate action and sustainable development. Areas of cooperation include clean and renewable energy, climate-resilient technologies, smart agriculture, sustainable water management, disaster resilience, and air pollution control. In the space sector, both sides welcomed progress towards establishing the ASEAN-India tracking, data reception, and processing facility in Vietnam, which is expected to strengthen regional space-based services and scientific cooperation.
The leaders further welcomed cooperation in the field of rare earths and critical minerals through a new agreement between IREL (India) Limited and Vietnam’s Institute for Technology of Radioactive and Rare Elements. This partnership is expected to support resilient supply chains and advanced technology manufacturing in both countries.
Through these initiatives, India and Vietnam have laid the foundation for a robust technology partnership that supports innovation, digital transformation, economic growth, and sustainable development while strengthening their strategic cooperation in the Indo-Pacific region.
