Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
India looks to strengthen business ties with Vietnam.
Dec 16, 2021
With global perception post COVID-19 not in favour of China, Indian business honchos are moving closer to Vietnam, a country known for its export oriented growth in the last three decades.
At the 27th edition of the CII Partnership Summit, held virtually on Tuesday, attended by close to 200 speakers from more than 40 countries, including 20 ministers from abroad, seven Indian ministers, 25 global CXOs and more than 100 heads of institutions, leaders and experts from around the world, this shift was evident.
The special country session was on Vietnam, and the consensus was that with a shared vision for economic prosperity and a strong history of trade ties, India’s economic relationship with Vietnam has made great strides over the past few years, and the business cooperation between the two countries is expected to further improve.
The bilateral ties have deepened through the years, with several high-level exchanges, that included visits of the Vietnamese president and prime minister to India in 2018. In December 2020, the prime ministers of both countries, in a virtual summit, set in motion the ‘India-Vietnam Joint Vision for Peace, Prosperity, and People’.
'Both India and Vietnam are home to rapidly growing markets that offer immense opportunities for enhancing bilateral trade and investment,' said one of the participants. India-Vietnam bilateral trade stood at over $10 billion in 2020, with India ranking eighth in the list of top exporting nations to Vietnam. India would not want to be dependent on China in the future for raw materials, and instead tap into countries like Vietnam, Bangladesh and even Taiwan, China’s arch rival.
The summit emphasised the importance of building supply chains, logistics and infrastructure connectivity for deeper regional integration.
'The heightened degree of volatility witnessed in the global trade environment has pushed businesses into diversifying their supply chains away from China, which has increased the importance of the India-Vietnam trade route for international business,' said an expert who participated in the panel discussion.
Accelerating MSME growth through global linkages, and expanding healthcare cooperation would be areas that the two countries would be working on. As a strong player in pharmaceutical manufacturing, India is a leading exporter to Vietnam. The sector is likely to see continuing growth in the future.
India and Vietnam has signed a MoU at the summit to promote exchange of knowledge, best practices and information and to explore new business opportunities in the field of solar energy with the aim to bridge the gap between Indian and Vietnamese solar companies.
The cooperation in disruptive technologies and digitisation was also discussed. On the digital payment front, India could share its experiences in creating an integrated, inter-operable system with a unified interface that could be hugely beneficial as it would also allow seamless transfer of funds across borders, incentivise innovations in payment systems and enable fin-tech companies to expand their scale and operations.
On the trade front, India can leverage digital cooperation mechanisms to engage through Digital Economic Partnership Agreements (DEPA) with Vietnam as this will help facilitate seamless, end-to-end digital trade, enable trusted data flows and build trusted digital systems. Through end-to-end digital trade, businesses can look forward to improved efficiencies and reduced costs.
'We are very optimistic. India and Vietnam are all set for the exponential growth in bilateral relationship, both in trade and tourism in the coming days,' Said Sanjay Budhia, co-chair, CII’s national committee on exports and MD, Patton group.
theweek.in
Archive