Vietnam-India Business Meeting Strengthens Trade And Investment Ties
A Vietnam-India business meeting was held in New Delhi on March 26 to support Vietnamese enterprises in enhancing competitiveness and expanding their presence in the Indian market, further strengthening bilateral trade and investment.
Ranjeet Mehta, Secretary-General and CEO of the PHD Chamber of Commerce and Industry (PHDCCI), emphasized the trade potential between both nations, particularly in agriculture, IT, AI and robotics. He highlighted PHDCCI’s role in providing platforms across India to facilitate business exchanges.
Lê Hồng Minh, Director of the Investment Promotion Centre for Industry and Trade under Vietnam’s Ministry of Industry and Trade, proposed measures to boost business collaboration, including maximizing trade opportunities under existing agreements like the Vietnam-India economic and trade cooperation agreements and the ASEAN-India Trade in Services Agreement. He also stressed the need for digital transformation, brand building and improved market access.
Vietnam’s Trade Counsellor in India, Bùi Trung Thướng, described the meeting as a step toward implementing the outcomes of Prime Minister Phạm Minh Chính’s visit to India, during which both nations set a goal of raising bilateral trade to US$ 20 billion by 2030.
With nearly 30 Vietnamese companies participating, representing sectors such as food processing, light industry, agriculture, electronics and textiles, the event facilitated direct B2B engagements, fostering new business connections.
Vietnam-India trade has been growing steadily, reaching US$ 15 billion in 2024, a 4.5% increase from 2023. Vietnam’s exports to India rose 7.6% year-on-year to US$ 9.06 billion, while imports from India totaled US$ 5.83 billion, slightly down by 0.6%, according to Vietnam Customs.
