SRV Media
New Delhi [India], April 23: In a significant stride towards bolstering economic relations between India and the growing relations with Vietnam, the Trade Commissioner of India ASEAN Trade Council of Telangana Hon. Pabbati Ravi Kumar region played a pivotal role at the India Vietnam Meeting 2024 held in the Highlands region of Dak Lak Province in Vietnam in collaboration with the Government of India under the Consulate General of Ho Chi Minh City in Vietnam. This esteemed gathering of business leaders, innovators, industries and policymakers was a robust platform for fostering collaboration, sharing insights, and exploring new avenues for economic cooperation between both nations. The delegation was hosted by the Vice Chairman of the Provincial peoples committee, Nguyen Thien Van.
Connecting Indian Businesses to the ASEAN landscape: The India Vietnam meeting, held in the Dak Lak province under the invitation of the leadership of Dak Lak witnessed His Excellency Madan Mohan Sethi, the Indian Consulate General in Ho Chi Minh and the Indian delegation that is positioned as an ideal arena for India ASEAN Trade Council to engage in meaningful discussions on trade, investment, and innovation. During the Meeting, the Trade Commissioner actively participated in discussions addressing key economic trends, opportunities, and challenges facing the region. Under Pabbati Ravi Kumar's leadership, it is aimed to leverage this platform to promote bilateral trade, share valuable insights on India's economic landscape, and explore collaborative initiatives that will benefit both Indian and Asian businesses. The Trade commissioner was accompanied by a 40-member delegation of businessmen from various neighboring states in India who visited various factories and companies in Coffee, IT, Agriculture, Education and Textiles.
"This gathering provided a unique opportunity to foster partnerships, exchange ideas, and contribute to the growth of our economies. We look forward to strengthening existing relationships and establishing new connections that will drive economic progress for both India and Vietnam," said CML Dilip who accompanied the Telangana Delegation and who is also the President of the Karnataka Arya Vysya Mahasabha.
In a significant stride towards enhancing economic cooperation and fostering stronger ties between India and Vietnam, members of the India ASEAN Trade Council also participated in a series of business-to-business (B2B) meetings held in the vibrant city of Dak Lak region and signed 4 MOU's with various sectors in the region. This event marked a pivotal moment in the ongoing efforts to boost trade relations between the two nations as delegates from various sectors explore opportunities for collaboration and mutual benefit with Vietnam's Strategic Significance.
As one of Vietnam's key economic and industrial hubs, Dak Lak holds strategic importance in the country's economic landscape. Its well-developed infrastructure, thriving coffee industry, and business-friendly environment make it an ideal destination for fostering international trade relations. The Indian delegation's decision to hold B2B meetings in Dak Lak region reflects the recognition of the city's economic potential and its role as a gateway to the broader Vietnamese market. The delegation brought together key players from both the public and private sectors, fostering a comprehensive and inclusive approach to bilateral trade discussions.
One of the primary focuses of the B2B meetings was to explore synergies in manufacturing and technology. With India's prowess in information technology and Vietnam's rapidly growing manufacturing sector, there exists immense potential for collaboration in areas such as electronics, software development, and high-tech manufacturing. Services Sector and Skill Development. The President of the Indian Economic Trade Organization was also present during the meetings and pledged support to these ongoing collaborations of the council. "We are committed to build people to people relations to accelerate growth and deepen our strategic engagements with various developing nations and Vietnam has been very active in inviting delegations for further initiations and it is evident from this delegation and interest it has generated in the whole process," said Dr. Asif Iqbal, President of the IETO who also signed the MOU with the Vice chairman of the Dak Lak province in the region.
The MOU signed in Dak Lak province between the India ASEAN Trade Council and their Vietnamese counterparts in Dak Lak region marks a significant step forward in strengthening the economic ties between India and Vietnam. As both nations navigate the evolving global economic landscape, these meetings serve as a foundation for sustained growth and prosperity through cooperation and understanding. The outcomes of these engagements are likely to yield tangible benefits for businesses, economies, and people on both sides, ushering in a new era of economic partnership between India and Vietnam. Hon. Pabbati Ravi Kumar is expected to lead more delegations to other ASEAN nations like Singapore, Indonesia, Cambodia, and Laos in the coming months with businesses from Telangana.
The Joint delegation embarked on a mission to meet with other business entities in Ho Chi Minh city under the patronage of the Indian Consulate General in Ho chi Minh His Excellency Madan Mohan Sethi. The primary objective of this meeting was to provide updates on their ongoing collaborations and explore new avenues to enhance bilateral trade between the two nations. A key focus was on identifying new investment opportunities in sectors such as infrastructure, renewable energy, and technology. The delegations sought the Indian consulate general support in promoting these opportunities to attract more investors from both sides. Beyond economic collaboration, the delegations expressed interest in promoting cultural and educational exchanges. Initiatives such as student exchange programs and cultural events were discussed to strengthen people-to-people ties.
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