Focus on Buddhist Heritage Tourism, Industry, Smart Cities and Investment Cooperation
Mumbai : Maharashtra is ready to act as a trusted partner in strengthening ties between India and Vietnam, Chief Minister Devendra Fadnavis said on Wednesday, stressing that the state government is committed to deepening cultural, economic and strategic relations with Vietnam.
The Chief Minister was addressing the India-Vietnam Business Forum organised during the one-day visit of Vietnam President Tô Lâm to Mumbai. He invited Vietnamese businesses to invest in Maharashtra across multiple sectors.
Fadnavis congratulated Prime Minister Narendra Modi and President Tô Lâm for taking the India-Vietnam partnership to a new level through the “Enhanced Comprehensive Strategic Partnership.”
Highlighting Maharashtra’s deep Buddhist heritage, the Chief Minister referred to Nagpur, where Dr. Babasaheb Ambedkar embraced Buddhism and gave it a modern social and constitutional foundation. He also welcomed Vietnamese investors and tourists to the UNESCO World Heritage Sites of the Ajanta and Ellora caves in Chhatrapati Sambhajinagar.
Fadnavis proposed the development of a dedicated Buddhist tourism circuit and suggested starting direct air connectivity between Chhatrapati Sambhajinagar and Ho Chi Minh City.
Stating that Mumbai and Ho Chi Minh City share many similarities as economic hubs, the Chief Minister welcomed the recent agreement signed between the two cities. He also praised Vietnamese conglomerate VinGroup’s proposed investment agreement worth USD 6.5 billion in Maharashtra, calling it the largest investment commitment from Southeast Asia.
The Chief Minister informed the Vietnamese delegation about industrial opportunities available in Mumbai, Navi Mumbai, Chhatrapati Sambhajinagar, Pune, Nagpur and Gadchiroli, inviting investment in sectors such as industry, energy, pharmaceuticals, information technology and tourism.
He said Mumbai and Pune have emerged as globally recognised pharmaceutical hubs and that Maharashtra has the capacity to supply affordable generic medicines and vaccines to Vietnam.
Fadnavis also proposed organising the Maharashtra-Vietnam Business Council annually on a rotational basis between Mumbai and Ho Chi Minh City. He expressed happiness over the first visit of the Vietnamese delegation to Mumbai and thanked Prime Minister Narendra Modi for his support in facilitating the visit.
Industry Must Take Lead in Elevating India-Vietnam Economic Partnership: President Tô Lâm
Speaking at the forum, Vietnam President Tô Lâm said both nations must jointly take initiatives in industry, technology, infrastructure and trade to further strengthen comprehensive economic cooperation.
Describing Mumbai as India’s leading financial and industrial centre, President Tô Lâm said the forum would provide a new direction to India-Vietnam relations. He noted that in a rapidly changing global environment, the importance of economic cooperation, trusted partnerships and new opportunities arising from globalisation has increased significantly.
The Vietnamese President said bilateral trade between India and Vietnam has been steadily growing, further strengthening economic ties between the two nations. He pointed to major opportunities for collaboration in electric vehicles, infrastructure, technology services, energy and manufacturing sectors.
He said several Indian companies are already operating in Vietnam across various sectors and added that such cooperation would play a key role in shaping future trade and industrial growth.
President Tô Lâm stressed the need to focus on trade facilitation, stronger economic cooperation, improved infrastructure and logistics connectivity, skill development and simplification of investment procedures to make bilateral cooperation more effective.
He also urged both countries to benefit from each other’s experiences in trade and economic development and invited Indian companies to expand investments in Vietnam while sharing technology and expertise.
During the forum, several Memoranda of Understanding (MoUs) were signed between industries from both countries in the presence of Chief Minister Devendra Fadnavis and President Tô Lâm.
