The article discusses mutual trade relations of Vietnam and India, their basic commodity groups and dynamic in the XXIst century. Economic and political reasons of these states for further expansion and diversification of trade interconnections are substantiated. The author emphasizes the special interest of India in economic and political relations with Vietnam due to the latter's ASEAN membership, thus, strengthening links with this highly influential organization in Southeast Asia. These links assume a special importance for India because of the weak position of SAARC, the regional intergovernmental organization and geopolitical union of states in South Asia, its working abilities hampered by frequent conflicts between India and Pakistan. The article shows the priority of China, as well as of USA, in trade with Vietnam. Taking into account «Russia's pivot to the East», the contacts with Vietnam and ASEAN are useful and perspective both from political and economic point of view.