Archive · 1 Oct 2026
Maharashtra, Vietnam Seek Stronger Trade and Investment Partnerships
Business leaders from India and Vietnam met in Mumbai to discuss working together more closely.
Maharashtra Minister Jayakumar Rawal said trade between the two countries is already worth more than USD 16 billion.
The countries want to increase that amount to USD 25 billion by 2030.
He said Maharashtra could learn from Vietnam’s manufacturing and export strengths.
Vietnam could benefit from Maharashtra’s experience in finance, pharmaceuticals, engineering and technology.
He also said better air connections could make business easier.
The meeting included the signing of an agreement between two business organizations.
That agreement aims to encourage online trade, knowledge sharing and partnerships between companies in India and Vietnam.
India–Vietnam trade has crossed USD 16 billion, with a target of USD 25 billion by 2030.
Maharashtra Minister Jayakumar Rawal said the state and Vietnam can expand trade, investment and business cooperation.
Rawal highlighted opportunities involving finance, pharmaceuticals, engineering, technology, ports, logistics and manufacturing.
He called for stronger Mumbai–Vietnam air connectivity and deeper long-term partnerships, including joint ventures and job creation.
The Indo-Vietnamese Chamber of Commerce and Industry signed an MoU with the Vietnam E-Commerce Association to support digital commerce and cross-border business cooperation.
- Who
- The Indo-Vietnamese Chamber of Commerce and Industry, the Vietnam E-Commerce Association, business representatives and Jayakumar Rawal, Maharashtra’s Minister of Protocol and Marketing.
- What
- The 36th Annual General Meeting discussed stronger India–Vietnam economic ties, and the two business organizations signed a cooperation MoU.
- When
- At the IVCCI’s 36th Annual General Meeting; the articles do not specify a date.
- Where
- The headquarters of the IMC Chamber of Commerce and Industry in Mumbai.
- Why
- To strengthen trade, investment, digital commerce, connectivity and long-term business partnerships between Maharashtra and Vietnam.
- Event
- 36th Annual General Meeting of the Indo-Vietnamese Chamber of Commerce and Industry
- Location
- IMC Chamber of Commerce and Industry headquarters, Mumbai
- Current trade
- India–Vietnam trade has crossed USD 16 billion
- Trade target
- USD 25 billion by 2030
- MoU signatories
- Indo-Vietnamese Chamber of Commerce and Industry and Vietnam E-Commerce Association
- Cooperation areas
- Digital commerce, knowledge exchange, industry engagement and cross-border business partnerships
- Key connectivity proposal
- Stronger Mumbai–Vietnam air connectivity