World Trade Center Mumbai organised an interactive meeting with H. E. Mr. Nguyen Thanh Hai, Ambassador of Vietnam to India to discuss pathways to enhance bilateral economic cooperation between both the countries at WTC Mumbai on March 26, 2025.

Speaking on this occasion, H. E. Mr. Hai informed, “Vietnam is keen to deepen its 2,000 year-old civilizational links with India. Vietnam Prime Minister Mr. Pham Minh Chinh became the second foreign state leader to visit India after Prime Minister Mr. Narendra Modi assumed office for the 3^rd term. This reflects the importance of India in Vietnam’s foreign policy. We are seeing remarkable interest from Vietnamese companies to invest in India. Vietnam’s electric vehicle maker VinFast plans to invest USD 2 billion in India. Also, we will soon launch network of Vietnamese companies in India as many companies from software, agriculture, petrochemicals, airlines, electronics and agriculture are planning to invest in India. In order to deepen our commercial ties, Vietnam government has proposed to sign comprehensive economic partnership agreement with India.”

H. E. Mr. Hai informed, “Last year, Vietnam government’s commerce ministry sent a proposal for a comprehensive economic partnership agreement to broaden our collaboration beyond goods trade to finance, intellectual property, services, investment and mobility. We are awaiting response from the Indian government. Also, both the countries are working to open each other’s markets for agro products such as grapes, pomegranate and other crops. The central banks of both the countries are working to operationalize alternative cross-border payment system to facilitate trade settlement and other transactions.”

Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, WTC Mumbai and President, All India Association of Industries (AIAI) mentioned, “India and Vietnam should not compete with each other; but learn from each other and collaborate in complimentary sectors. India can learn from the successful SEZ model of Vietnam for industrial development. India can allocate dedicated special economic zones (SEZs) and technology parks to attract investment from Vietnamese companies and also promote technology collaboration and joint ventures.”

Dr. Kalantri added, “The current bilateral trade of USD 15 billion is far below potential and we can grow this beyond USD 20 billion by identifying focus sectors and exchanging trade delegations in these sectors. Many Indian companies have invested in Vietnam directly and also indirectly through Dubai, Singapore and other financial hubs. We need to attract Vietnamese investment into India.”

Speaking on this occasion, Ms. Rupa Naik, Executive Director, WTC Mumbai suggested the Ambassador to lead a business delegation at WTC Mumbai’s upcoming flagship event Global Economic Summit (August 20-22, 2025) to explore Indian market.

The meeting was also graced by Mr. Le Quang Bien, Consul General of Vietnam and senior officials from the consulate.

Ms. Priya Pansare, Director, Trade & Investment Promotion, WTC Mumbai and Ms. Aakruti Bagwe, Director - Operations, WTC Mumbai also attended the event.

Headline Image: H. E. Mr. Nguyen Thanh Hai, Ambassador of Vietnam to India (4^th from left) felicitated by Dr. Vijay Kalantri, Chairman, WTC Mumbai and President, All India Association of Industries (AIAI) (5^th from left). also seen in the photograph (from left to right): Ms. Sangeeta Jain, Senior Director, AIAI, Ms. Aakruti Bagwe, Director - Operations, WTC Mumbai, Mr. Le Quang Bien, Consul General of Vietnam, Capt. Ramesh Gulati, Member, Council of Management, WTC Mumbai, Ms. Rupa Naik, Executive Director, WTC Mumbai and Ms. Priya Pansare, Director, Trade & Investment Promotion, WTC Mumbai

Promotional Image: H. E. Mr. Nguyen Thanh Hai, Ambassador of Vietnam to India (left) felicitated  by Dr. Vijay Kalantri, Chairman, WTC Mumbai and President, All India Association of Industries (AIAI)