Wednesday, September 4, 2013

India offers $100-million credit line to Vietnam to purchase military equipment

In a rare move of fostering bilateral relations, India has offered a $100-million credit line to Vietnam to purchase military equipment.

The deal is likely to be finalized during the visit of the General Secretary of the Communist Party of Vietnam later this year. 

It may be added that usually such privilege moves are reserved for  immediate neighbours - but this is the first time that New Delhi has extended a credit line for defense purchases to a far off nation. Delhi and Hanoi have been working towards building a robust partnership for the past few years.




Hanoi is gradually becoming the linchpin of this eastward move by New Delhi. Hanoi fought a brief war with Beijing in 1979 and has grown wary of the Middle Kingdom’s increasing economic and military weight. That’s why in some quarters of New Delhi, Vietnam is already seen as a counterweight in the same way Pakistan has been for China.

Source
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