Maharashtra and Vietnam Can Build Stronger Trade, Investment and Business Partnerships: says Minister Jayakumar Rawal at the IVCCI AGM at IMC

The Indo-Vietnamese Chamber of Commerce and Industry organized its 36th Annual General Meeting at Mumbai's IMC Chamber of Commerce headquarters. The gathering brought together industry leaders, business representatives, and stakeholders to discuss bolstering economic and commercial ties between India and Vietnam. Jayakumar Rawal, Minister of Protocol and Marketing from Maharashtra, served as the Chief Guest.

He highlighted that India-Vietnam trade had exceeded 16 billion USD, with a goal of reaching 25 billion USD by 2030. Rawal emphasized that Maharashtra and Vietnam have significant potential for collaboration, with Maharashtra benefiting from Vietnam's manufacturing, export, and supply-chain strengths, while Vietnam could gain from Maharashtra's expertise in finance, pharmaceuticals, engineering, technology, ports, and logistics.

He stressed the importance of moving beyond traditional trade relationships to focus on long-term investment and business partnerships, stating that connectivity is crucial for business. Rawal also noted that Maharashtra should view Vietnam as a gateway to ASEAN, and Vietnamese companies should consider Maharashtra as a gateway to India.

A significant outcome of the AGM was the signing of a Memorandum of Understanding between IVCCI and VECOM, aimed at deepening business cooperation and fostering greater opportunities for industry engagement, digital commerce, knowledge exchange, and cross-border partnerships. The meeting also featured a presentation by the Vietnam E-Commerce Association, shedding light on Vietnam's growing e-commerce landscape and presenting new opportunities for Indian businesses to engage with the Vietnamese digital economy.