Indian, Vietnamese firms seek stronger ties in building material sector

HCM City - A visiting delegation of Indian business executives from the ceramic tile, porcelain floor, wall and decoration tile, bathroom sanitary ware and related industries met with their Vietnamese counterparts in Ho Chi Minh City to compare notes and seek tie-ups.

Vishal Acharya from the Emerald Worldwide Connections Private Limited speaks at the event (Photo: VNA)

The Vietnam-India business meeting on August 23 saw Vishal Acharya of the Emerald Worldwide Connections Private Limited pointing out that India was the second largest ceramic tiles producer in the world after China and accounting for 20 percent of the global production.

India, like Vietnam, is a rapidly developing country, with booming construction, which is pushing up demand for tiles and other building materials, according to the businessman.

Indian enterprises are very interested in the Vietnamese market, and they want to not only export to the country but also invest and produce there.

Nguyen Huu Nam, Deputy Director of the Vietnam Chamber of Commerce and Industry’s Branch in HCM City (VCCI-HCM), said India was among the top 10 trading partners of Vietnam, which in turn was considered an important country in India's ‘Look East policy,’ which is reflected in the multi-faceted co-operation between the two countries in recent years.

Trade between the two nations reached 13.2 billion USD last year, up 36.6 percent year-on-year. India’s exports to Vietnam were worth 6.95 billion USD, up 56.7 percent from 2020, while Vietnam’s rose by 19.6 percent, he said.

The two countries target soon reaching 15 billion USD in bilateral trade.

“To achieve this goal, Vietnam and India need to further strengthen co-operation in fields where the two sides have strengths and competitive advantages and complement each other,” he said.

Organised by the VCCI-HCM and Emerald Worldwide Connection, the meeting was among activities to promote the Ceramics & Bath Industry Show (CBIS) to be held in January 2023 in India, he said.

“After more than two years of disconnection due to COVID-19, the event today will provide Vietnamese businesses with useful information about products, markets and incentives to attend CBIS in India.

“Besides, the B2B business networking session offers opportunities to find new partners and strengthen business relationships for businesses from both sides.”

Acharya invited Vietnamese companies to participate in the exhibition, saying it would showcase the best-in-class products and technologies in the fields and offer business matching, factory tours and seminars on the latest industry developments.

The expo would be a perfect platform for manufacturers to showcase their products and network with the “most influential industry stakeholders and generate business leads,” and visitors could source the latest materials and services and meet directly with decision-makers in companies to negotiate prices, he added.

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