Potential of direct shipping between India-Vietnam discussed
India-Vietnam could explore investment opportunities in modernization and monetization of infrastructure at 85 locations in Tier-I and Tier-II cities under public-private partnership mode, says the Department for Promotion of Industry and Internal Trade (DPIIT).
DPIIT Secretary Rajesh Kumar Singh shared this after hosting Vietnamese delegation to enhance bilateral cooperation in infrastructure and logistics sector.
The delegation paid a five-day visit from 31 July to 4 August 2023 is a follow-up to an Indian delegation’s visit, headed by Special Secretary, DPIIT, Sumita Dawra to Vietnam between 29-31 March 2023.
Minister of State for Commerce and Industry said the bilateral interactions will foster collaboration and foreign investments in the logistics sector in both countries and promote investments.
Key takeaways from the meeting:
Direct shipping route between India and Vietnam is a potential area of interest for both sides.
Investment opportunities in industrial parks and greenfield industrial smart cities such as Dholera Special Investment Region, Shendra Bidkin Industrial Area etc. can be explored by Vietnamese businesses.
Ministry of Textile highlighted that the growth in the sector with forward looking schemes such as production-linked incentive (PLI 2.0), Pradhan Mantri Mega Integrated Textile Region and Apparel Parks (PM MITRA) etc. will enhance investments.
Council for Leather Exports showcased potential for setting-up production units in mega leather, footwear and accessories clusters, for attracting investments.
Also, presentations from officials from Gujarat, Haryana, Uttar Pradesh, Tamil Nadu, and Karnataka focused on highlighting the key developments and investment opportunities in respective states.
For instance, Haryana’s Integrated Multi Modal Logistic Hub that offers investors an opportunity to partner as project concessionaire for building and operating internal infrastructure.
Similarly. collaboration can be sought in Multimodal logistic Hub (MMLH) Dadri, Mega Food Park, Bareill, etc. in Uttar Pradesh.
Officials from the visiting Vietnamese companies showcased development in their logistics and supply chain network, along with investment opportunities in various sectors including logistics facilities, air cargo, container shipping, maritime, etc.
The Indian businesses presented development and opportunities in the warehousing sector, airfreight, supply chain management, EXIM cargo handling, etc.
In his closing remarks, Consul General of India in Vietnam, Madan Mohan Sethi, reiterated the commitment of both nations to enhance bilateral trade and investment and expressed confidence in the positive outcomes of the delegation’s visit.
He invited Indian entrepreneurs to explore trade and investment opportunities in Vietnam.
The Vietnamese also visited Integrated Industrial Township – Greater Noida, Aurangabad Industrial City (AURIC), Maharashtra and Airport Cargo Terminal and Custom Facility, Bangalore, Karnataka, to gain first-hand experience of the logistics ecosystem in the country.
Around 80 participants including Vietnamese delegates from various logistics and supply chain companies and associations had fruitful discussions at the two-day meetings. Fiinews.com
