The Indian Commerce Promotion Organisation beneath the Ministry of Commerce and Business of India is coordinating the Indian pavilion with 14 cubicles exhibiting varied Indian merchandise in sectors like communications, electronics, vehicle parts, waste-water remedy, banking and financing providers, agro-processing, client items, and infrastructure akin to ports and logistics.

“Indian firms are eyeing the Vietnamese market, which is trying fairly engaging to them,” stated Indian Ambassador to Vietnam Sandeep Arya. “India needs to develop its commerce and funding ties with Vietnam.”

“As we activate efforts in India on the stage of presidency and companies, we sit up for the assist of the Vietnamese authorities, businesses, companies, and the media in increasing bilateral commerce, funding, and collaboration amongst our enterprises,” he added.

Indian firms akin to M/s Adani Ports & Particular Financial Zones Restricted, Financial institution of India, Bharat Electronics Restricted, Spark Minda Company Restricted, Ion Change India Restricted, Allanasons Non-public Restricted, Marhaba Frozen Meals, Honest Exports (India) Non-public Restricted, KCP Restricted, Marico South East Asia Company, and Tata Espresso Vietnam Firm Restricted sit up for participating with Vietnamese companies to discover additional collaboration and alternatives.

“Aside from efforts at authorities stage, enhancing enterprise exchanges, notably in areas of power for each economies, may assist unleash potential enterprise alternatives between the 2 nations,” the embassy stated. “On this context, the presence of Indian firms on the expo will assist bridge the data hole, facilitate enterprise to enterprise contacts, and additional promote enterprise cooperation between the 2 nations.”

Based on the embassy, bilateral commerce between India and Vietnam has been rising over the previous couple of years and stood at $14.36 billion in 2023 when India was Vietnam’s seventh largest buying and selling accomplice, seventh largest export market, and tenth largest import supply.

India’s main exports to Vietnam included equipment and gear, auto parts, prescribed drugs, maize, marine merchandise, metals, animal feed substances, and chemical substances. India’s main imports from Vietnam have been digital objects, cellphones and equipment, equipment and gear, metal, and different metals.

At current, India and Vietnam are among the many quickest rising economies on this planet. India has turn out to be the fifth largest economic system on this planet with a GDP of $4.1 trillion and estimated 7 per cent GDP progress within the subsequent 4 years.

India’s international direct funding (FDI) influx elevated to $84.84 billion throughout 2021-2022 and maintains a wholesome development.

To this point, India is dwelling to 113 unicorns with a mixed valuation of $350 billion, and has over 124,000 government-recognised startups.

VIETNAM EXPO 2024 is happening in Hanoi from April 3 The thirty third Vietnam Worldwide Commerce Honest (VIETNAM EXPO) is happening from April 3-6 in Hanoi, attracting almost 50 Vietnamese firms from 23 cities and provinces across the nation, and greater than 480 abroad corporations from 16 nations and territories.