Key Highlights

• In FY 2024, Vietnam's exports to India were $10.648 billion, 10.42% more compared to the previous year.

• Close to 45% of Vietnam's total trade value was accounted for by electrical machinery and instruments.

• Vietnam's standing as a dependable manufacturing and sourcing ground for India is further strengthened by its machinery, metals, and chemicals.

• The top 3 product categories that are mainly exported from Vietnam to India are Electrical Machinery and Equipment, Nuclear Reactor, Boiler, Machinery & Mechanical Appliances, and Iron and Steel.

Vietnam-India Trade Relationship In Perspective

The establishment of strong diplomatic ties, ASEAN-India agreements, and the growing need for additional low-cost sourcing alternatives have all played a part in the steady growth of the business relationship between Vietnam and India over the past two decades. High-tech manufacturing exports such as electronics, machinery, and specialty chemicals have grown from a small trade in agricultural commodities and raw materials. 

In FY 2024, the exports of Vietnam to India have been above $10.6 billion, which shows the economic cooperation and the growing dependence of India on Vietnamese suppliers for reliable, expandable, and diverse supply chains. The imports from Vietnam to India are no longer just commodities; they are directly associated with the industrial, infrastructure, and manufacturing sectors of India. 

How AI and Verified Trade Data Are Solving Import Challenges

Data accuracy, supplier confidence, and product consistency have always been major obstacles in international trading. Importers can now trace trustworthy exporter Vietnam networks, examine Vietnam trade trends, and confirm product demand before investment, thanks to AI-driven trade intelligence and verified export data.
 

The HSN code of the top 5 products exported from Vietnam to India in 2024

Before we dive deep into the products and their exporting value, let`s go through their HSN code:

 

Top 5 Products Exported from Vietnam to India in 2024

1. Electrical Machinery and Equipment
Export Value: $4.789 Billion

The most popular product type that Vietnam sends to India is electrical machinery. Semiconductors, circuit components, consumer electronics components, and telecom equipment are examples of electrical machinery. Vietnam's electronics manufacturing sector has been a popular sourcing destination because of its high quality, affordability, and potential for large-scale production. This is among the top things that Indian businesses may import from Vietnam.

2. Nuclear Reactors, Boilers, Machinery & Mechanical Appliances
Export Value: $1.177 Billion

The Vietnamese exporters offer a broad spectrum of industrial machines, mechanical components, and precision tools to the Indian industries. These products help develop the infrastructure, power, and manufacturing sectors in India. The import of these products from Vietnam to India has increased as they are more cost-effective and provide shorter lead times than the existing suppliers.

3. Iron and Steel
Export Value: $849.669 Million

The trade of iron and steel in Vietnam is increasing, particularly for construction-grade and industrial steel. The infrastructure and property sectors in India depend on Vietnam's exports to satisfy their short-term requirements without affecting the quality. The supply and pricing of Vietnam exports make this a good import segment.

4. Copper and Articles Thereof
Export Value: $719.808 Million

The importation of copper from Vietnam is very important in the electrical, renewable energy, and automotive industries in India. The export capabilities of Vietnam in processed copper and semi-finished copper offer Indian importers an effective alternative to the conventional markets.

5. Inorganic Chemicals and Rare-Earth Compounds
Export Value: $330.437 Million

Vietnam exports products that also include specialty inorganic chemicals for pharmaceuticals, electronics, and industry. As the demand for rare earth elements and specialty compounds increases, Vietnamese exporters are becoming reliable sources for the import of high-value chemicals into India.

Conclusion

The export in Vietnam has evolved to become a very reliable and diverse sourcing destination for Indian companies. Whether it is electronics and machinery, metals, or chemicals, Vietnam's exports to India are increasing and contributing to the growth of industries in various segments. With AI-driven trade intelligence and accurate information, importers can now make more informed decisions and choose the most suitable Vietnam exporters to partner with and increase their imports from Vietnam to India. 

As the volume of trade increases and the range of products expands, the Vietnam trade will remain an essential determinant of the future of the supply chain in India and make Vietnam one of its most important partners.
 

Frequently Asked Questions (FAQs)

Q1. What are the top Vietnam-exporting products to India in FY 2024?
The top goods that Vietnam exports to India include inorganic chemicals, iron and steel, mechanical appliances, electrical machinery, and copper items. 

Q2. What are the best products to import from Vietnam to India?
Electronics, industrial machinery, metals, chemicals, and agricultural products like cashew nuts are also the best items to import from Vietnam to India. 

Q3. How can businesses start importing from Vietnam to India?
Finding verified Vietnam exporters, examining trade data, and guaranteeing regulatory compliance are the first steps in importing from Vietnam to India. 

Q4. Why is Vietnam`s trade growing rapidly with India?
Strong trade agreements with India, tough supply chains, and cost-effective manufacturing are all contributing reasons to Vietnam's increasing commerce. 

Q5. How to find reliable exporters in Vietnam?
Trade statistics, AI, and previous shipment records can be used to find reliable Vietnamese exporter companies. 

Q6. What are the Vietnam export products that are in high demand in India?
The Vietnamese export products, such as electronics, machinery, copper, steel, and chemicals, are in high demand in the Indian industry. 

Q7. Is the cashew nut Vietnam price competitive for Indian importers?
Yes, the cashew nut in Vietnam is competitive.

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