HANOI: The Southeast Asian nation is an attractive destination in investment and trade for foreign firms in Asia, including those from India, as it is expected to become a large regional economy in the future, Kher stated at the India Vietnam Business Meet.
Kher headed a delegation of 50 leading Indian businesses in many fields to join a working trip to explore business opportunities in Vietnam. India not only wants to consolidate and strengthen economic ties with Vietnam, but also yearns to develop relationships in many other aspects strategically and comprehensively, Kher said.
Vietnam and India can foster cooperation in textiles, pharmaceuticals, chemicals, information technology, and high-tech products, he said.
India is considered a fast-growing emerging economy with a lot of potential, including a large consumer market, so the investment and trade opportunities there are equally available to both domestic and foreign companies.
Vietnamese enterprises should therefore actively seize the advantage to increase investment and expand their market share in India, Kher added.The economic structures of Vietnam and India complement each other in a good way, Kher commented.
As a developing nation with abundant sources of raw materials, Vietnam will have more opportunities to export to serve manufacturing in India.
As the Southeast Asian country’s manufacturing industries are developing, they will require more raw and semi-processed materials from other parts of the world, and Indian suppliers will offer their best products at good prices.
The two countries can thus complement each other in their production processes following their capacities and positions in the global value chain.
