Nghe An provincial leaders attending the workshop included comrade Thai Thanh Quy - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, Head of the Provincial National Assembly Delegation. Also attending were comrade Pham Trong Hoang - Member of the Provincial Party Committee Standing Committee, Chairman of the Provincial Party Committee Inspection Committee and a high-ranking delegation of Nghe An province including leaders of many departments, branches and localities.
The workshop was attended by Ambassador Nguyen Thanh Hai - Ambassador Extraordinary and Plenipotentiary of Vietnam to India. On the side of the Indian Chamber of Commerce, there was Mr. Nikhil Kanodia - President of the North, Indian Chamber of Commerce (ICC). Also attending were representatives of the Indian Ministry of External Affairs and businesses and entrepreneurs.
In his welcoming speech, Mr. Nikhil Kanodia - President of the Northern Region of the Indian Chamber of Commerce (ICC) affirmed: The relationship between India and Vietnam is one of India's most important bilateral relationships in Southeast Asia. In 1992, India and Vietnam established extensive economic ties, including oil exploration, agriculture and manufacturing.
In July 2007, the relationship between the two countries was upgraded to a "Strategic Partnership". In 2016, the bilateral relationship was further upgraded to a "Comprehensive Strategic Partnership".
From a mere $200 million in 2000, bilateral trade between India and Vietnam has grown steadily over the years. According to Indian statistics for the financial year 2021-2022, bilateral trade between India and Vietnam increased by 27% to $14.14 billion. India is one of the top 8 trading partners of Vietnam while Vietnam is India's 15th largest trading partner and 4th in Southeast Asia.
India and Vietnam have supported each other in various international forums and organizations, demonstrating their commitment to global cooperation. Vietnam has supported India’s bid to become a permanent member of the United Nations Security Council (UNSC) and join the Asia-Pacific Economic Cooperation (APEC).
“The famous ‘Doi Moi’ reforms since 1986 have ensured that Vietnam has become a hub for high-tech manufacturing while retaining its strength in traditional agricultural, forestry and fishery products,” he said.
Both India and Vietnam have similar industrial product lists and there are ample opportunities in the automotive, textile, leather, chemicals, plastics, agro-processing, agricultural machinery, infrastructure, IT and healthcare sectors for businessmen from both sides to explore. India’s duty-free access to ASEAN products makes our country an attractive destination for Vietnamese exports.
Referring to Nghe An, Mr. Nikhil Kanodia emphasized: The province has become an attractive investment destination for both domestic and international enterprises; possessing positive decisive factors such as strong exports, positive growth in gross regional domestic product (GRDP), developing industrial zones and abundant labor resources.
“As the Indian Chamber of Commerce, we are keen to support and facilitate the delegation interested in the Indian automobile, pharmaceutical and electronics sectors not only during this visit but also in the future,” the President of the Northern Region of the Indian Chamber of Commerce (ICC) affirmed.
The Indian Chamber of Commerce (ICC) has been at the forefront of facilitating business and promoting economic growth in India since its inception in 1925. As the oldest and most prominent chamber of commerce in the country, ICC has played a pivotal role in shaping the Indian business landscape over the decades.
Headquartered in Kolkata (the capital of the Indian state of West Bengal, with a population of approximately 11 million, including the greater metropolitan area of 14 million, the third largest city in India), ICC plays a vital role in fostering business relationships, providing valuable resources and protecting the interests of its members; and acts as a vital bridge between government agencies and the private sector.
With its rich heritage and unwavering commitment to promoting entrepreneurship, ICC is seen as a beacon for growth and development in the Indian business community.
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