The Embassy of India in Vietnam, in cooperation with Investglobal, organized the India-Vietnam Business Meet on October 6, to provide a venue for interaction between businesses from the two countries.
It coincides with a visit to Vietnam by a business delegation consisting of 18 members from the northern Indian state of Rajasthan, taking place from October 6 to 10. The delegation’s objective is to explore investment and trade opportunities across various sectors, including electronics, electrical cables, switchgear equipment, solar energy, construction contracting, agriculture and food processing, fertilizers, education, IT & software, textiles, mechanical engineering, mineral processing, natural stone, cement, plastics & packaging, pharmaceuticals, financial services, and insurance.
“Our delegation will be in Hanoi from October 6 to 10,” said Mr. N. K. Jain, President of The Employers’ Association of Rajasthan. “During this time, we intend to strengthen international relations, facilitate collaborative business prospects, and acknowledge excellence in the employment sector. The choice of Hanoi for our inaugural international event is deliberate, reflecting our commitment to embracing global partnerships, exploring new markets, and appreciating Vietnam’s vibrant and dynamic business ecosystem.”
Investglobal is eager to foster greater cooperation between Vietnam and India, expressing optimism for ongoing collaboration in the pursuit of economic development. Its aspiration is to elevate bilateral relations to unprecedented levels, facilitating mutual growth and prosperity in various sectors of the economy.
Bilateral trade between India and Vietnam has witnessed consistent growth, rising from a mere $200 million in 2000. According to information from the Indian Embassy regarding FY 2021-2022, bilateral trade experienced 27 per cent annual growth, reaching $14.14 billion. India’s exports to Vietnam stood at $6.7 billion, representing a 34 per cent increase, while Indian imports from Vietnam amounted to $7.44 billion, marking a 21 per cent increase. Vietnam was India’s 23rd-largest global trading partner in the period and fourth-largest partner within ASEAN, behind Singapore, Indonesia, and Malaysia.
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