22nd May, 2023
PHDCCI Business delegation to Vietnam a milestone in strengthening bi-lateral trade ties between India & Vietnam and promoting industrial opportunities
Dr. Madan Mohan Sethi, Consul General of India, while hosting the delegation mentioned that Vietnam’s economy is growing at an accelerated rate, with an ambitious target of becoming a developed nation by 2040 and a carbon-neutral country by 2050.
Last couple of months the Vietnam leadership has shown keen interest in connecting to Indian businesses, due to declining trade relations with China, added Dr. Madan
The good news is that since the last 7-8 months 150 million dollars have been invested by Indians in Ho Chi Minh City, giving equal opportunities for everyone to play not only in the infrastructure sector but across various sectors, added Dr. Madan.
In the recent past, there has been a significant investment, an approx 200-300 million dollars, from Vietnam in India. India should handhold these investors, make them comfortable and take advantage of this opportunity and strengthen the trade relation between the two countries, said the Consulate General, Dr Madan
The Vietnam leadership is working towards making Ho Chi Minh City the financial hub, and without adequate support from India it is not possible.
Dr. Ranjeet Mehta, Deputy Secretary General, PHDCCI, expressed his gratitude to Dr. Sethi for his time and for hosting the PHDCCI business delegation to Vietnam
He mentioned that Vietnam is an aspirational economy and he assured Dr. Sethi of the complete support of PHDCCI in building stronger ties with Vietnam and handholding the Vietnamese businesses in setting up businesses in India.
Dr. Mehta also apprised Dr. Sethi about the upcoming “UP International Trade Show,” scheduled from 21-25 September, 2023, The biggest sourcing show to be co-organized by the Government of Uttar Pradesh and the India Exposition Mart Ltd. Carrying the theme, “A Bigger View of Enterprising Charm of Uttar Pradesh,” the state through the expo is expected to offer a one-stop-shop for foreign businesses looking to scale in the Indian marketplace. Dr. Mehta further invited Dr. Sethi to visit the show and also promote it within the Vietnamese businesses.
The delegation comprised members from various industries, including textiles, tourism, healthcare, railway, agriculture and agro-processing among others.
The meeting was attended by notable delegates like, Mr. Sudhir Rao Hoshing, Co-Chair, Infrastructure Committee, PHDCCI & Chief Executive Officer IRB Infrastructure Developers Ltd.; Mr. Dev Prakash Goel, Co-Chair, MSME committee, PHDCCI & Managing Director ConQuerent Control Systems Pvt. Ltd.; Mr. Anil Kumar Jain Managing Director Himalaya Polytech Pvt Ltd A K Engineering Industries (I) Pvt Ltd; Mr Kiran Kumar Soin, Managing Director ANCHOR FAB; Mr.Subhash Kumar Roongta, Mr. Sanjay Sharma Chief Executive Officer ECOFAV Services Pvt Ltd; Mr. Gurpreet Singh Asst. Manager Tech, Unify Healthcare Services; Mr. Manjit Singh Operations Manager Unify Healthcare Services; Mr. Anurag Gupta Founder Bellurbis Technologies Pvt Ltd.; Mr. Rohit Bansal Co-Founder Bellurbis Technologies Pvt Ltd.; Mr. Dipesh Gambani Partner Aarush Impex, who expressed their desire to expand their businesses in Vietnam and also support the Vietnamese businesses set up in India.
Overall, the delegation’s visit to Vietnam is an important milestone in India’s efforts to strengthen trade relations with Southeast Asia and build a more prosperous and connected region.
PHD Chamber of Commerce and Industry