Opportunities for Indian Companies in Vietnam
June 3, 2016
In a seminar organized by India-Asean-Sri Lanka Chamber of Commerce & Industry, Vietnam ambassador to India, Ton Sinh Thanh said that India is one of the biggest trading partners of Vietnam and currently the bilateral trade between the two countries is about $5.3 billion, which was $ 1 billion in 2007 and still have huge potential. He also highlighted India’s potential to export medicines to Vietnam. Vietnam exports mobile phones, computers, machinery, spare parts, coffee, natural rubber and other products to India.
According to Mr. Sinh Thanh, the Indian export to Vietnam is rising and the trade deficit is also declining. India’s investment in Vietnam was $507 million, during the last year alone. He also mentioned about how Indian textile companies can be the beneficiaries of the Trans-Pacific-Partnership (TPP) Agreement which is expected to be effective between 12 developed & developing economies, of which Vietnam is one country.