Vietnam and India have a long-standing traditional relationship that has been nurtured by our Leaders from generations. Trade and investment are one of the key pillars of the bilateral relationship. India is one of the top 8th trading partners of Vietnam while Vietnam is the 15th largest trading partner of India and the fourth in Southeast Asia. In 2021, bilateral trade turnover reached 13.2 billion USD for the first time. It is expected to reach the target of 15 billion USD set by the leaders of the two countries in 2022. The main Vietnamese exported products to India are mobile phones and components, computers, electronic products and components, chemicals, plastics, rubber, coffee, pepper, and cashew. The main Indian exported products to Vietnam are iron and steel products, textile materials, fishery, corn, pharmaceutical, and pharmaceutical raw materials; auto spare parts.
On the occasion of the 50th anniversary of the Vietnam – India Diplomatic relations, the Ministry of Industry and Trade, Government of Vietnam organized a business delegation led by Mr. Do Quoc Hung, Deputy Director General of the Ministry, and 20 business communities in multi-sectors to India from July 18th to 22nd 2022.
The delegation consists of 20 enterprises in various fields such as agricultural products (Coffee, Rice, Pepper, Tapioca Starch, Desiccated Coconut, Tea, peanut oil, dry instant seed, black flute mist, dried fruits, vegetables…); food & beverage (instant canned processed foods, nutritional drink, food supplement,… ); industrial products (electric fans and fan motor, mechanical products, and auxiliary industrial equipment); chemicals and chemical products (compound fertilizers, water purification materials, and chemicals); building materials (limestone, resin beads, white limestone powder) textile and garment, and textile materials; pharmaceuticals; handicrafts. The enterprises are all reputable enterprises, carefully selected by the Ministry of Industry and Trade of Viet Nam to join this trip.
During the delegation’s visit to India, the Ministry and Embassy conducted a series of business forums and meetings in New Delhi, Agra, and Jaipur.
In continuation to this effort, a business meeting between India and Vietnam is being organized at India International Centre, 40 Max Mueller Marg, New Delhi on 18th July 2022 from 10.00 hours till 17.00 hours. The business meeting includes interactive sessions led by industry leaders such as FICCI, Invest India, Indian Importers Chamber of Commerce & Industry, Indian Industries Association, Chamber of Commerce- Sustainable Development and Foreign Relations, APEDA, etc. Representatives of the Department of Commerce, Ministry of Commerce and Industry, and Niti Aayog also presented.
In this event, more than 200 renowned persons from various sectors of Indian Industry.
This platform provides an opportunity to businessmen from both countries to interact one to one in various sectors like food processing, fast-moving consumer goods, cosmetics, handicrafts, home furnishings, agriculture products, etc., Both India and Vietnam have great potential in these sectors.
Through this conference, the Embassy and the Ministry of Industry and Trade of Vietnam aimed to explore the Business opportunities and Investment ties between Vietnam and India. The investment relationship between Vietnam and India has reached to many heights in recent years, especially in the Import and export of agricultural products. We are focusing on elaborating the relationship with other sectors also.
The business people gathered in the one-day event are utilizing the facility to learn more information about each other’s markets and partners, thereby realizing and forming relationships to carry out business activities.
The main aim of the Embassy of Vietnam is to represent Vietnam as an up-and-coming business relationship that offers unique business opportunities in India and vice versa. The focus is to highlight the sectors that have massive potential such as food processing, fast-moving consumer goods, cosmetics, handicrafts, home furnishings, agriculture products, etc.
There are several initiatives being taken by the government to attract investment. The recent changes in the FDI policies will attract investors and are optimistic that many investment-friendly policies will be implemented. The start-up ecosystem with the right direction and reforms has the potential to grow.
For more details and information,
may please contact:
Bui Trung Thuong
Embassy of Vietnam in India.