According to Anil Agarwal, President of the Federation of Telangana Chambers of Commerce and Industry (FTCCI), Vietnam and India have a long-standing traditional relationship, with trade, industry and investment as important pillars.
India is one of Vietnam's eight largest trade partner, while Vietnam is India's 15th biggest trade partner and the fourth largest in Southeast Asia, showing the relationship between Vietnam and India is expanding towards a comprehensive strategic partnership in the future.
Vietnam mainly invests in India in pharmaceuticals, information technology, chemicals and construction materials. Meanwhile, India is creating more favorable conditions for Vietnamese enterprises to access the Indian pharmaceutical and agricultural product market, which is also an advantage for Telangana state to export its products.
Madan Mohan Sethi, Consul General of India in HCMC, said that India has mechanisms and policies in place to attract foreign investment, including in the Vietnamese business community. Indian diplomatic missions and promotion organizations are making efforts to promote trade, immigration procedures, and provide market information for businesses and foreign investors, he said.
Within the framework of the event, the Vietnam Chamber of Commerce and Industry’s Branch in HCMC and the FTCCI signed a Memorandum of Understanding to support businesses and promote trade between the two sides.