India, Vietnam Enhance Ties With $300 Million Credit Line For Maritime Security

India and Vietnam solidified a new action plan to enhance their strategic ties during Vietnamese Prime Minister Pham Minh Chinh's visit to India. Prime Minister Narendra Modi emphasised their commitment to a free and rules-based Indo-Pacific and affirmed New Delhi's support for development rather than 'expansionism'.

After extensive discussions with Chinh, Modi announced a $300 million credit line for Vietnam, aimed at bolstering the Southeast Asian nation's maritime security.

Chinh, who arrived in Delhi on Tuesday night for a three-day visit, aimed to further strengthen the comprehensive strategic ties between the two countries.

"We have adopted a new plan of action to further strengthen our comprehensive strategic cooperation," Modi stated in his media address alongside Chinh.

Modi highlighted that both countries will continue to collaborate for a free, open, rules-based, and prosperous Indo-Pacific. Vietnam is a crucial partner in India's Act East Policy and Indo-Pacific vision, he noted.

"We support development, not expansionism," Modi reiterated.

These remarks come amid rising global concerns over China's expansionist activities in the Indo-Pacific.

Various dimensions of India-Vietnam relations have both expanded and deepened over the past decade, Modi said. "In the last 10 years, we have transformed our relations into a Comprehensive Strategic Partnership."

(With inputs from PTI).