New Delhi (VNA) – A Vietnamese business delegation visited Mumbai on September 29-30, working with the Indo-Vietnamese Chamber of Commerce and Industry (IVCCI), the Indian Merchants' Chamber (IMC), and the Mumbai World Trade Centre (WTC Mumbai) to promote trade, investment, e-commerce, and digital transformation.
During the visit, which also aimed to establish regular communication channels between the two business communities, the Vietnamese Embassy in India, the Consulate General in Mumbai and the Vietnam Trade Office in India co-hosted a trade promotion event in the capital of Maharashtra State.
The Vietnamese delegation had 13 members from the Vietnam E-Commerce Association (VECOM) and companies in e-commerce, technology, retail solutions and cross-border trade. They looked for partners and deals, and want lasting channels into India's business community.
On September 29, the group attended IVCCI's 36th Annual General Meeting and held a networking session with IMC.
Speaking via video link, Vietnamese Ambassador to India Trinh Minh Manh credited IVCCI with more than three decades of bridging the two business communities and turning strong political relations into concrete economic results.
Economic and investment cooperation now spans a wide range of areas, with both sides targeting 25 billion USD in bilateral trade by 2030. Electric vehicles, renewable energy, smart cities, digital transformation, logistics, supply chains, tourism and people-to-people exchanges are drawing greater focus. Cooperation in agriculture, digital payments, strategic minerals and green development should also expand, he said.
Manh said that with IVCCI and IMC actively involved, Vietnam-India economic ties will grow in a practical, diversified and sustainable way.
Bui Trung Thuong, Minister Counsellor and Head of the Vietnam Trade Office in India, said the relationship is at a point where it can move into a new phase, extending to the digital economy, e-commerce, technology, innovation and logistics.
He proposed upgrading IVCCI's operations and extending its network across India to reach other major economic hubs. He also floated a Vietnam-India Business Council to remove market access barriers, link major trade and investment projects, spur innovation and hold regular business dialogues.
VECOM and IVCCI signed a Memorandum of Understanding (MoU) on business connectivity, market access support and joint activities.
On September 30, the delegation moved on to the Vietnam-India Business Connectivity Forum at WTC Mumbai. Vietnamese Consul General in Mumbai Le Quang Bien gave an overview of bilateral ties and opportunities, while Thuong outlined the prospects for trade. Vietnamese companies presented their e-commerce ecosystems, capabilities and partnership needs.
The Vietnam Trade Office also proposed linking the WTC networks in major economic hubs in both countries, building on existing infrastructure. Under the plan, WTC Mumbai and other Indian WTCs will deepen ties with their Vietnamese counterparts and trade promotion agencies, forming a "Vietnam-India WTC Business Connectivity" network.
Thuong said the plan goes beyond linking WTCs to foster direct company-to-company ties and matching each hub's strengths with suitable sectors. In place of one-off events, the two countries will set up a mechanism for regular two-way delegations focused on specific sectors and tied to concrete results. Activities could include market surveys, company visits, targeted B2B meetings, investment matchmaking and post-mission follow-up.
The measure of success is not the number of conferences or MoUs, but how many companies find partners, how many contracts and projects get underway, and how many products win access to the other's market, he said.
Alongside in-person missions, the initiative will create a regular channel for sharing business opportunities, including importer and distributor demand, supply sources, technology partners and investment projects. The goal is to keep contacts active year-round rather than only around events.
Participants also spent time on networking and B2B meetings. Vietnam's HGI Investment and WTC Mumbai signed an MoU, adding a further basis for follow-up on business connectivity./.
VNA
