Friday, October 2, 2009

Indian businesses seek opportunities in Vietnam - Indian businesses seek opportunities in Vietnam

Indian businesses seek opportunities in Vietnam - Indian businesses seek opportunities in Vietnam "A delegation comprising 50 members from the Indian Chamber of Commerce and Industry will conduct a market survey on October 3 to seek business opportunity in Vietnam.

The delegation will attend investment and trade forums in Ho Chi Minh City and Hanoi and take part in the Hanoi International Trade Fair.

The delegation members are leading Indian producers, traders and investors in electricity, steel, gold, jewelry, construction materials, garments, electronics, food processing, pharmaceuticals, medical equipment and maritime transportation.

Trade relations between Vietnam and India have made significant progress in the 40 years of establishing diplomatic ties. Two-way trade grows by 20 percent annually. Vietnam mainly exports iron, coal, pepper, footwear, rubber and tea and imports machinery, mobile phones, pharmaceuticals, building materials, fuel and garments.

In 2008, Vietnam’s exports to India reached nearly US$387 million, up 46 percent compared to the previous year. However, due to the global downturn, in the first eight months of this year, the value reached only US$222 million, down 14 percent compared to the same period last year.
So far this year, India has invested in 35 projects in Vietnam, with a combined registered"
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