Indian Prime Minister Narendra Modi offered Vietnam a credit line on Saturday of half a billion dollars for defence cooperation, giving a lift to a country rapidly pursing a military deterrent as discord festers in the South China Sea. India and Vietnam share borders and large trade volumes with China and have repeatedly locked horns with Beijing, over the territorial disputes in the Himalayas and the South China Sea, respectively. Both are also beefing-up of their defences and in India’s case, its defence industry, promoting heavily its supersonic BrahMos missile. India is keen to sell the missile to Vietnam and four other countries, according to a government note seen by Reuters in June. In an address to media, Modi said the credit was for “facilitating mutual defence cooperation” and the relationship between the two countries would “contribute to stability, securities and prosperity in this region”.

Source: Dhaka Tribune September 03, 2016 18:00 UTC