Overview

• The Embassy of Vietnam secured approval on July 8 for a dedicated Vietnam desk in Kolkata, which will open in the coming days to facilitate state-level commerce
• India-Vietnam trade reached $15 billion in 2024, and officials have set a target of $20 billion in annual bilateral exchange
• Ambassador Nguyen Thanh Hai met Chief Minister Mamata Banerjee on July 9 and confirmed Vietnam’s delegation will participate in the Bengal Global Business Summit
• Officials have earmarked agro-processing, pharmaceuticals, textiles and renewable energy as priority sectors under the new trade facilitation mechanism
• Vietnamese firm VinFast has begun operations at its $500 million electric-vehicle plant in Tamil Nadu and further Vietnamese business delegations to India are planned