ANN/VIETNAM NEWS – A business meeting connecting Vietnamese and Indian enterprises was held in New Delhi on March 26. The event’s primary objective was to empower Vietnamese businesses to enhance their competitiveness and increase their presence in India, ultimately fostering stronger bilateral trade and investment relations.
Speaking at the event, Secretary-General and CEO of the PHD Chamber of Commerce and Industry (PHDCCI) Ranjeet Mehta highlighted the significant trade potential between Vietnamese and Indian businesses, particularly in agriculture, information technology, artificial intelligence and robotics. He noted that the PHDCCI provides multi-sectoral platforms across India, helping to facilitate business exchanges between the two countries.
Director of the Investment Promotion Centre for Industry and Trade under Vietnam’s Ministry of Industry and Trade Le Hong Minh suggested several measures for boosting business collaboration.
He emphasised the importance of maximising trade opportunities under existing deals such as the Vietnam – India economic and trade cooperation agreements and the ASEAN – India Trade in Services Agreement, as well as enhancing trade promotion efforts through digital transformation and information technology application.
It is necessary to step up trade promotion across various stages, from product development, investment promotion, brand building, to export market expansion, while increasing information sharing by keeping businesses updated on each country’s trade and investment policies. Mechanisms for mutual visits and networking initiatives should also be established to foster deeper and more productive partnerships, he added.
Minh expressed confidence that Vietnamese and Indian businesses will continue to leverage their strengths and unlock new opportunities for economic cooperation, contributing to the sustainable development of the two countries’ Comprehensive Strategic Partnership.
Vietnam’s Trade Counsellor in India Bui Trung Thuong described the meeting as a practical step to implement the outcomes of Prime Minister Pham Minh Chinh’s visit to India, during which the two sides agreed to raise bilateral trade to USD20 billion by 2030.
The nearly 30 Vietnamese companies present at the event represented key industries with strong growth potential in India such as food processing, light industry, agricultural products, electronics and textile – garment.
