Consul General of India, Vietnam is a country with the spirit of support, dare to think and dare to do
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- Business
- 01:04 22/03/2023
DNHN - Mr. Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, embodies one of the most highly regarded trade and investment cooperation philosophies between Vietnam and India.
This is an online and face-to-face meeting organized by the Consulate General of India in Ho Chi Minh City with the theme "India's potential - Investment opportunities in the pharmaceutical sector." Collaboration between Ho Chi Minh City and the Vietnam Chamber of Commerce and Industry (VCCI) in Ho Chi Minh City. Initiated by Ho Chi Minh.
India has one of the world's earliest and most developed pharmaceutical industries. Since the early 1960s, the Government of India has encouraged domestic companies to produce medicines, because India faced numerous challenges after gaining independence from Britain in 1947. At that time, the issue of providing health care services to the people was a difficult and urgent one for the leaders of this country, who were facing many difficulties due to the poor economy...
India currently holds an important position in the global pharmaceutical industry and is the world's largest supplier of generic drugs. The Indian pharmaceutical industry supplies more than fifty percent of the global demand for vaccines, forty percent of generic drug requirements in the United States, and twenty-five percent of all medicines in the United Kingdom. Indian pharmaceutical companies currently supply more than 80% of the antiretroviral drugs used worldwide to combat AIDS (acquired immunodeficiency syndrome).
This country's pharmaceutical exports will reach 22 billion USD in 2022, and 21 billion USD in the third quarter of 2023. According to Indian Consul General Madan Mohan Sethi, thirty to forty Indian companies have arrived in Ho Chi Minh City since the beginning of the year. Ho Chi Minh City is seeking investment possibilities. Vietnam and India are two culturally similar nations, an interesting and attractive market for Indian investors, which makes successful cooperation in many fields such as pharmaceuticals, electronics, and the production of food, food, and car accessories relatively straightforward. India is included in the total foreign investment of 100 billion USD in Vietnam. Consequently, Vietnam must further improve this trade balance...
Ms. Yashika Khurana - Assistant Vice President of Invest India (Team Asean) and Mr. Himanshu Agrawal - Assistant Vice President of Invest India (Team on Pharmaceuticals) presented investment opportunities in India's pharmaceutical sector. According to Ms. Yashika Khurana, India is the third-largest consumption market in the world. Moreover, India has built a world-class infrastructure, with 4,000 industrial zones appearing on the map and 30 billion USD in 14 major export-oriented manufacturing industries. India aspires to have a $5 trillion economy by 2025.
In addition, Ms. Nguyen Hong Lam – a Representative of IPCS Southern Investment Promotion Center provided an update on Vietnam's investment situation and policies in India to encourage Vietnamese businesses to invest there. help Vietnamese investors invest overseas. In addition, Vietnamese businesses have raised several concerns regarding the identification of medium-sized partners for speakers and policies in the Indian market.
Uyen Nhi
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