India gained its independence from the United Kingdom on August 15, 1947.
The friendship between the two countries has developed constantly over the past years in many fields, especially economics.
Two-way trade turnover increased considerably from US$50 million in the 1980s to more than US$1 billion in 2006.
Recent years have also seen the relationship grow. In the first five months of this year, the bilateral trade revenues hit over US$1.5 billion, a 39 percent increase from the same period last year.
After such encouraging results, Vietnam and India have now set a target of raising bilateral trade turnover to US$5 billion by 2015.
The ASEAN-India Free Trade Area agreement, which was signed in 2009, and India’s recognition of Vietnam as a full market economy have opened up many opportunities for comprehensive and mutually beneficial cooperation between the two countries.
In HCM City, the Vietnam-India Friendship Association held a number of culture and arts exchanges to increase mutual understanding between Indian and Vietnamese enterprises and to assist them in exploring investment and trade opportunities in each country.
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