Both India and Vietnam are committed to technological advancement, resilient supply chains, economic openness, and strategic autonomy
FinTech BizNews Service
Mumbai, 7 May 2026: Maharashtra is ready to work as a reliable partner to further strengthen the relations between India and Vietnam. Chief Minister Devendra Fadnavis asserted that the state government is committed to further strengthening cultural, economic and mutual relations with Vietnam.
Chief Minister Devendra Fadnavis addressed the India-Vietnam Business Forum organized by the Confederation of Indian Industry (CII) during the one-day visit of Vietnamese President To Lam to Mumbai. On this occasion, he appealed to Vietnamese entrepreneurs to come to the state for investment.
Chief Minister Devendra Fadnavis congratulated Prime Minister Narendra Modi and Vietnamese President To Lam for taking the India-Vietnam partnership to a new level by strengthening it further and taking it to the 'Enhanced Comprehensive Strategic Partnership'. While talking about the rich heritage of Buddhism in Maharashtra, the Chief Minister introduced the foundation that Dr. Babasaheb Ambedkar adopted Buddhism in Nagpur and gave it to the modern era. He also welcomed Vietnamese investors to the Buddhist and Jain caves of Ajanta and Verul, which are UNESCO World Heritage Sites. He proposed to start direct air services between Chhatrapati Sambhajinagar and Ho Chi Minh City and develop an independent Buddhist tourism circuit.
Chief Minister Devendra Fadnavis welcomed the recent agreement signed between the two cities, saying there are similarities between Mumbai and Ho Chi Minh City. He also welcomed the proposed investment agreement of US$ 6.5 billion by Vietnamese company Vingroup in Maharashtra, calling it the largest deal from South East Asia.
Giving information about the industrial opportunities available in cities like Mumbai, Navi Mumbai, Chhatrapati Sambhajinagar, Pune, Nagpur, Gadchiroli, Chief Minister Devendra Fadnavis urged Vietnamese entrepreneurs to invest in various sectors like industry, energy, pharmaceuticals, information technology, tourism. He also mentioned that the pharmaceutical sector in Mumbai and Pune is of world class and the state has the capacity to reliably supply affordable generic medicines and vaccines to Vietnam. The Chief Minister also proposed to organize the Maharashtra-Vietnam Business Forum alternately in Mumbai and Ho Chi Minh City every year. Expressing happiness over the first visit of the Vietnamese delegation to Mumbai, he thanked the Prime Minister of India, Narendra Modi, for his cooperation in this visit.
Industry should come forward to take India-Vietnam economic partnership to new heights – President Tho Lam
Speaking at the forum, Vietnamese President To Lam asserted that both countries need to take joint initiatives in the fields of industry, technology, infrastructure and trade to further strengthen the comprehensive economic partnership between India and Vietnam.
President To Lam noted that Mumbai is a major economic and industrial hub of India and the event held here will give a new direction to India-Vietnam relations. He said that in the changing world situation, economic cooperation, new opportunities in globalization and reliable partnerships are increasingly important.
Stating that India-Vietnam bilateral trade is steadily growing, President To Lam noted that this is further strengthening the economic ties between the two countries. He said that there are great opportunities for cooperation between India and Vietnam in the fields of electric vehicles, infrastructure, technology services, energy and industry. He explained that many Indian companies are operating in Vietnam in various sectors and this cooperation is important for the future trade and manufacturing sector.
President To Lam said that the key areas of focus will be trade facilitation, enhancing economic cooperation, strengthening infrastructure and logistics connectivity, promoting skill development, and facilitating investment processes to make bilateral cooperation more effective. He also said that the two countries should benefit from each other's experiences to enhance cooperation in the trade sector. He called on Indian industries to invest more in Vietnam and exchange experiences and technology.
On this occasion, in the presence of Chief Minister Devendra Fadnavis and Vietnamese President To Lam, a memorandum of understanding was signed between industries in various sectors of the two countries.
Chief Minister Devendra Fadnavis welcomed the recent agreement signed between the two cities, saying there are similarities between Mumbai and Ho Chi Minh City. He also welcomed the proposed investment agreement of US$ 6.5 billion by Vietnamese company Vingroup in Maharashtra, calling it the largest deal from South East Asia.
Giving information about the industrial opportunities available in cities like Mumbai, Navi Mumbai, Chhatrapati Sambhajinagar, Pune, Nagpur, Gadchiroli, Chief Minister Devendra Fadnavis urged Vietnamese entrepreneurs to invest in various sectors like industry, energy, pharmaceuticals, information technology, tourism. He also mentioned that the pharmaceutical sector in Mumbai and Pune is of world class and the state has the capacity to reliably supply affordable generic medicines and vaccines to Vietnam. The Chief Minister also proposed to organize the Maharashtra-Vietnam Business Forum alternately in Mumbai and Ho Chi Minh City every year. Expressing happiness over the first visit of the Vietnamese delegation to Mumbai, he thanked the Prime Minister of India, Narendra Modi, for his cooperation in this visit.
Chief Minister Devendra Fadnavis addressed the India-Vietnam Business Forum organized during the one-day visit of Vietnamese President To Lam to Mumbai. On this occasion, he appealed to Vietnamese entrepreneurs to come to the state for investment.
Chief Minister Devendra Fadnavis congratulated Prime Minister Narendra Modi and Vietnamese President To Lam for taking the India-Vietnam partnership to a new level by strengthening it further and taking it to the 'Enhanced Comprehensive Strategic Partnership'. While talking about the rich heritage of Buddhism in Maharashtra, the Chief Minister introduced the foundation that Dr. Babasaheb Ambedkar adopted Buddhism in Nagpur and gave it to the modern era. He also welcomed Vietnamese investors to the Buddhist and Jain caves of Ajanta and Verul, which are UNESCO World Heritage Sites. He proposed to start direct air services between Chhatrapati Sambhajinagar and Ho Chi Minh City and develop an independent Buddhist tourism circuit.
