Notes for Vietnamese businesses when approaching the Indian market

Process and procedures for granting Quality Standard Certificates in India Attend the Workshop "Guide to information search and resolve trade disputes with Indian partners"

After organizing the online seminar “Some notes on negotiating, signing and implementing contracts with Indian partners” on July 5, 2023 with the participation of nearly 150 businesses, the Vietnam Trade Office in India received many responses from Vietnamese businesses requesting to continue organizing similar activities.

Sự quan tâm của doanh nghiệp Việt Nam tới thị trường Ấn Độ ngày càng lớn

At the request of businesses, on the afternoon of July 12, 2023, the Vietnam Trade Office in India organized the next online seminar with the topic "Guide to information search and trade dispute resolution with Indian partners", this program attracted the participation of more than 170 Vietnamese businesses operating in many different fields.

In his opening speech, Mr. Bui Trung Thuong, Vietnam Trade Counselor in India, said that India is currently the fifth largest economy in the world after the US, China, Japan and Germany. According to a study by Goldman Sachs published on July 6, India will become the second largest economy in the world by 2075, surpassing not only Japan and Germany but also the US. The Indian market opens up a lot of potential for business cooperation in many fields for Vietnamese enterprises. To develop business relationships with Indian partners, Vietnamese enterprises need to carefully study information about the partner enterprises.

At the workshop, Mr. Thuong guided businesses on the use of a number of tools to look up information about Indian partners on government portals such as the Ministry of Corporate Affairs (MCA), look up through the Goods and Services Tax (GST) code and through the Import-Export Code (IEC). At the same time, Mr. Thuong briefly introduced the complaint process with the Directorate General of Foreign Trade of India in case of a trade dispute.

Next, Mr. Do Duy Khanh, First Secretary, guided businesses by directly operating on Indian electronic information portals to search for information about businesses and instructions on sending complaints to the Directorate General of Foreign Trade of India.

Mr. Khanh emphasized the importance of finding out basic information about Indian enterprises when doing business with these partners. The information includes company name, address, phone number, email, website, legal representative, business registration number, GST tax code and IEC import-export code.

Speaking at the end of the program, Mr. Thuong also noted that Vietnamese enterprises need to be very careful when negotiating with Indian partners, do it step by step and need to express it in writing or by email, when signing a contract, they need to carefully study each clause to avoid complaints and disputes later.

Mr. Thuong suggested that Vietnamese enterprises continue to send specific information and questions for each industry so that the Trade Office in India can organize practical and effective online seminars in the coming time, meeting the urgent needs of Vietnamese enterprises.

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