Vietnam -The ASEAN Land of Opportunities, the 23rd largest trading partner of India and fifth in Southeast Asia as on 2021-22 with a projected bilateral trade with India as USD 15 billion, is one of the most vibrant economies in the ASEAN region with strong growth pattern, relatively low inflation, strong FDI inflows and strong manufacturing sector. Vietnam is an important pillar in India’s Act East Policy playing a strategic role in the global value chain in the ASEAN and adjoining countries.
As 13th most important export destination for Indian Engineering products during 2021-22. India’s engineering exports to Vietnam has grown by 42% from 1.8 billion USD in April-March 2020-21 to 2.6 billion USD in April-March 2021-22.
The Consulate General of India in Ho Chi Minh City is organizing a month long “Namaste Vietnam Festival” to coincide with the celebration of 75th anniversary of India’s independence and 50th anniversary of establishment of India Vietnam diplomatic relations. The festival, which has various areas including culture, business and trade, aims to stretch the outreach of Indian companies in Vietnam by promoting trade, interactions and people to people exchange