Vietnam, India co-operate in manufacturing industry development
VOV.VN - There remains plenty of room ahead for Vietnam and India to step up ties in developing manufacturing industries such as mechanics, electricity, electronics, digital technology, and energy, heard a seminar held on July 18 in Ho Chi Minh City.
Upon addressing the event, Dao Minh Chanh, deputy director of the HCM City Investment and Trade Promotion Centre (ITPC), emphasised that the India-Vietnam comprehensive strategic partnership has achieved impressive results across multiple fields, especially in relation to the sphere of trade.
Two-way trade turnover between the two countries has witnessed a 60-fold rise from US$200 million in 2000 to over US$14.36 billion in 2023, with this figure at US$7.18 billion for 2024 so far, turning India into the country’s eighth largest trading partner.
Tran Hoai Nam, vice president of the HCM City Association of Mechanical - Electrical Enterprises (HAMEE), revealed that both sides boast strategic locations in the Asian region, a young workforce, fast-growing economies, and diverse export markets thanks to active international integration.
In addition, as both countries view the industrial field to be the foundation for economic development, there are bright prospects ahead for businesses to ramp up linkages in multiple fields such as mechanical engineering, infrastructure construction, renewable energy, information technology, and scientific research in the time ahead, Nam stressed.
For his part, Rohit Sharma, head of ASEAN and Oceania Department of the Confederation of Indian Industry (CII), said that India has strengths in the manufacturing sector with a number of Indian products enjoying a greater presence in several countries around the region and the world.
He therefore expressed his hope that through the event, Indian businesses will find suitable potential partners and seek to expand their operations whilst creating more opportunities for import-export activities moving forward.
