The forum is regarded as the first major trade promotion initiative aimed at implementing outcomes in economic cooperation, trade, and digital transformation following the recent State visit to India by Party General Secretary and State President To Lam.

Speaking at the opening session, Bui Trung Thuong, trade counsellor and head of the Vietnam Trade Office in India, emphasised that the digital economy and e-commerce are becoming new drivers of global trade, creating opportunities for businesses, especially small and medium-sized enterprises (SMEs) and startups, to access international markets more efficiently and at lower cost.

In his view, both Vietnam and India are among Asia’s fastest-growing digital economies and possess significant potential for cooperation in digital platforms, logistics, fintech, artificial intelligence, innovation, and startup ecosystems.

Representatives at the forum agreed that the two countries are well positioned to establish a deeply connected digital trade ecosystem by leveraging complementary strengths in technology, manufacturing, and market development.

Bui Thi Thanh Hang, representing Vietnam’s eCommerce and Digital Economy Agency (iDEA), stated that Vietnam currently ranks among the top three fastest-growing e-commerce markets in ASEAN. The country’s e-commerce market is projected to reach US$37.2 billion by 2026, with annual growth estimated at around 25 percent.

She added that Vietnam’s new E-Commerce Law, scheduled to take effect on July 1, 2026, will provide a more transparent legal framework for cross-border e-commerce while supporting businesses in utilizing digital platforms as strategic export channels.

Meanwhile, Dr. Sanjiv Layek, Executive Secretary of the World Association for Small and Medium Enterprises (WASME), noted that India currently has more than 700 million internet users and one of the world’s leading fintech ecosystems. India’s Unified Payments Interface (UPI) system alone recorded more than 241 billion transactions during the 2025–2026 fiscal year.

According to representatives from Invest India, India’s strong investment in digital infrastructure, logistics, and administrative reforms is creating new opportunities for Vietnamese enterprises to access the South Asian market through e-commerce and digital services.

One notable proposal introduced at the forum was the establishment of a “Vietnam–India MSME Digital Corridor,” put forward by WASME.

Dr. Sanjiv Layek stated that digital trade cooperation between Vietnam and India could potentially hit US$500 million by 2030 if both countries accelerate digital infrastructure connectivity and support greater participation of SMEs in global value chains.

Under the WASME proposal, the two countries could explore payment connectivity between India’s UPI system and Vietnam’s NAPAS network, simplify electronic customs procedures, develop joint AI sandbox initiatives, and launch digital trade acceleration programmes for businesses from both countries.

As part of the B2B business networking activities, Vietnamese and Indian companies also discussed cooperation opportunities in “quick commerce,” a rapid delivery business model currently experiencing strong growth in India.

Several Indian logistics firms and e-commerce platforms expressed interest in partnering with Vietnamese enterprises in goods distribution, warehousing, digital branding, and regional supply chain development.

With the foundation of the enhanced Comprehensive Strategic Partnership and the rapid expansion of digital economies in both countries, Vietnam and India are well positioned to make digital trade a new growth driver in bilateral economic relations in the coming years.

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