India, Vietnam seek to strengthen ties in building material sector

Ho Chi Minh City [Vietnam], August 24 (ANI): 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, the Vietnam News reported.
Speaking at the Vietnam-India business meeting on August 23, Vishal Acharya of Mumbai-based Emerald Worldwide Connections Private Limited said that India was the second largest ceramic tiles producer in the world after China and accounted for 20 per cent of the global production.
"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," Vietnam News quoted Deputy general director of the Vietnam Chamber of Commerce and Industry Nguyen Huu Nam as saying.
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.
Trade between the two countries reached USD 13.2 billion last year, up 36.6 per cent year-on-year.
India's exports to Vietnam were worth USD 6.95 billion, 56.7 per cent more as compared in 2020, while Vietnam's rose by 19.6 per cent, he said, adding that the two countries target soon to reach USD 15 billion.
"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.
Nguyen Huu Nam told that the meeting organized by the VCCI and Emerald Worldwide Connection was among the activities to promote the Ceramics and Bath Industry Show (CBIS) to be held in January 2023 in India, the Vietnam News reported.
"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. (ANI)