Promoting trade and commerce with Uttar Pradesh state - India

With the support of the Vietnam Trade Office in India, a delegation of nearly 50 Vietnamese enterprises participated in exhibition visits, trade activities, meetings with sellers and buyers, and export promotion forums within the framework of the first International Trade Exhibition (UPITS) organized by the Uttar Pradesh state government and the Federation of Indian Export Organizations (FIEO).

UPITS trade show was held at India Expo Mart, Greater Noida, from September 21-25, attracting the participation of over 2000 exhibitors from Uttar Pradesh and the interest and attendance of over 15,000 buyers, over 50,000 domestic and international visitors.

Promoting trade and commerce with Uttar Pradesh state - India

The exhibition promoted small businesses and products manufactured across Uttar Pradesh, especially products of micro, small and medium enterprises (MSMEs), geographical indication (GI) products and products of women entrepreneurs…

Earlier, in her opening remarks, President of India Droupadi Murmu appreciated the event and hoped that UP would contribute positively to India's goal of becoming a $5 trillion economy. The President also praised the role of the Chief Minister and the leadership of UP in the goal and mission of bringing the state's gross domestic product to $1 trillion in the coming time. She also highlighted the role of small and medium enterprises, young entrepreneurs, especially women entrepreneurs, in showcasing their products. She also mentioned the increasing participation of women in business activities and expressed the need to further enhance the role of women in the socio-economic development of the state.

Uttar Pradesh has a population of nearly 250 million people (2.5 times that of Vietnam) but an area of ​​only about 240 thousand km2. UP plays an important role in elections in India due to the number of members represented in the Indian Parliament but its economic size is only the 5th in India.

With the aim of deepening the state's economic activities with other regions and states of India and enhancing international integration, for the first time, the UP state government has organized the largest-ever International Fair combining trade events and meetings of sellers and buyers.

During the working sessions with the organizing committee, the Vietnam Trade Office in India emphasized the role of economic and trade cooperation between Vietnam and India in general and with UP in particular and requested that the other side actively coordinate in organizing trade programs and promoting trade between localities of the two countries.

The Vietnamese delegation included nearly 50 businesses, accounting for more than 10% of the total number of international visitors invited by the Uttar Pradesh State government, in coordination with the Federation of Indian Export Organizations.

The Vietnamese delegation actively participated in exhibition visits, trade activities, meetings with sellers and buyers, and attended export promotion forums.

Speaking to Mr. Bui Trung Thuong, Trade Counselor of Vietnam in India, Mr. Ashish Jain, Deputy General Director of FIEO, said that the UPITS 2023 event demonstrates the important role and potential of Uttar Pradesh as a major trade and business hub of India and countries in the region. UPITS 2023 is not only a testament to the economic potential of the state but also a platform to promote global business relationships and promote cultural exchanges.

Although the general export between Vietnam and the world is still facing many difficulties, Vietnam's exports to India remain stable compared to the previous year. According to data from the General Department of Vietnam Customs, Vietnam's exports to India in the first 8 months of 2023 were at 5.43 billion USD, equivalent to the export value in the same period in 2022. Meanwhile, import turnover from India reached 4.07 billion USD, down sharply by 15.5%. Total bilateral trade turnover in the first 8 months of 2023 reached 9.51 billion USD, down 7.8% compared to 10.31 billion USD in the first 8 months of 2022. The trade surplus of 1.35 billion USD is in favor of Vietnam.

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