Senior leaders of Indian groups and companies
would land in Hanoi and HCMC in November to participate in road shows named
India Calling in an effort to sound out investment opportunities in the
country, an Indian diplomat said on Monday.
“An Indian minister will lead a delegation of
30 to 40 members representing Indian businesses to attend the India Calling
that will take place in Hanoi and HCMC,” said India consulate general Abhay
Thakur.
The diplomat and Indian Merchants’ Chamber
(IMC) deputy general director Jitendra Sanghvi said at a meeting at the City
Hall that Indian companies would look for Vietnamese partners for technology
transfer deals, especially in pharmaceutics and farm produce processing, Thakur
said.
In the talk with Vo Van Luan, chief of the
municipal government office, Sanghvi of IMC revealed that Indian enterprises
had keen interest in the Mekong Delta.
“They (Indian firms) showed great interest in
the Mekong Delta area, and some 60 per cent of Indian projects would land in
this area,” he stressed.
Consulate general Thakur said that
Vietnam-India two way trade turnover is believed to sharply increase, for
instance, to some $4 billion this year from $2.75 billion last year.
“We broke ground for a charcoal plant worth
$65 million in Ba Ria - Vung Tau province. Another factory in Tay Ninh province
in the animal feed industry went into operation in March, while an instant café
mill with total investment capital of $25 million is planned to get off ground
in Daklak province,” he added.
According to Thakur, the Indian government is
going to launch a trade finance programme for Vietnam.
As for the local government, Luan pledged to
make every effort as support for the organisation of the conference. Luan also
suggested India widen the scale of their projects, since the average capital
for each project is only around $5 million.
Established in 1907, IMC now represents over
240,000 large corporations and businesses in India.
The conference “India Calling” was first
organised by IMC in Singapore in 2004. Since then, the investment trade
promotion activity has been held annually in different nations.
Saigon Times
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