Sat, Feb 25, 2017 | updated 08:02 AM IST

PM Modi's visit will boost trade, says Indian business diaspora in Vietnam

Updated: Sep 03, 2016 06:29 IST
Hanoi [Vietnam], Sept. 2 (ANI): Indian business diaspora has hailed Prime Minister Narendra Modi's visit to Vietnam, hoping that it will further strengthen trade ties between the two countries.

"Whenever any leader visits some other country, there is always attention towards it, and that also brings the attention of the business industry. Though 15 years is a long gap, this visit is definitely going to improve the business relationship between the two countries, because today Vietnam is one of the fastest growing economy, and Indian companies should seriously look this market for the growth of trade and investment," Indian Business Chamber in Vietnam chairperson Rajeev Garg told ANI.

He said there is huge potential for trade growth between the two countries, but a more focused and structured approach is required if a target of 15 billion dollar is to be reached by 2020.

He said products such as agricultural products, raw materials, leather, textile and accessories from India have a lot of potential in Vietnam, and likewise agricultural products, electronics, white marble stone and many other products are also exported to India from Vietnam.

Garg added that there should be more ease of operations, and trade barriers should be minimised between the two countries for further growth.

He said more attention on Indian business chambers is needed from the Indian side and there should be frequent exchanges between business delegations.

"Indian and Indian Chambers in small countries should be given more attention from the Indian side. Besides, there should be more business delegation exchanges between the countries, which will help increase business," he said.

TATA Power head in Vietnam Shenbagam Manthiram said a good connectivity and overcoming some cultural barriers will tremendously help improve trade.

"There are tremendous opportunities available; be it the power sector, the defence sector and other areas. If connectivity is there between the two countries, the language barrier is broken a bit and the cultural barriers are shaken up, and there is great opportunity," he said.

J.V. Ratnam, General Director-cum-Country Manager for Bioseed in Vietnam, said, "India and Vietnam have a good bilateral trade. The Prime Minister's visit will further strengthen areas like agriculture, defence and power, where there can be possibilities of increasing the business."

"India has been contributing to the growth of Vietnam. Like in agriculture, we were the first guys to set up the rice research station for them," he added.

When asked about how Indians are treated in Vietnam, he said, "Indians are very well respected here may be because of the legacy they carry. They are considered as brothers here. Vietnamese hold Indians in high esteem, because of jobs and business that Indians do here. We have been contributing intellectually as well."

He also mentioned that Buddhism is followed in Vietnam so they look at India as a gateway to understanding Buddhism better.

Indian Prime Minister Modi, who is on a two-day visit to Vietnam, arrived at the Noi Bai International Airport in Hanoi earlier Friday night.

An Indian Prime Minister is visiting Vietnam after a gap of 15 years.

He will hold talks with his Vietnamese counterpart Nguyen Xuan Phuc for closer ties in key areas of defence, security, trade and oil exploration.

Prime Minister Modi will also meet President Tran Dai Quang. (ANI)

Washington D.C. [U.S.A.], Feb. 25 (ANI): A Department of Homeland Security (DHS) report assessing the terrorist threat posed by the citizens of the seven countries covered by President Donald Trump's travel ban has expressed doubt on the necessity of the order.

Full Story >>

Moscow [Russia], Feb. 25 (ANI): Turkey may seek to reinstate death penalty on grounds of public demand, country's President Recep Tayyip Erdogan has said.

Full Story >>

New Delhi [India], Feb. 25 (ANI): British journalist Piers Morgan, who has never shied away from showing support for U.S. President Donald Trump, has once again batted for the latter.

Full Story >>

New York [USA], Feb. 25 (ANI): The Pentagon has issued a directive that officials should now use the more common term ISIS to refer to the terror group.

Full Story >>

President Trump set to upgrade military

Updated: Feb 25, 2017 04:16 IST

New York [USA], Feb. 25 (ANI): U.S. President Donald Trump on Friday said he is putting together a "massive budget request" to upgrade "all of the military," as reported by CNN.

Full Story >>

Washington D.C. [USA], Feb. 25 (ANI): The White House on Friday blocked several news organisations from an off-camera press briefing, raising alarm among the First Amendment watchdogs.

Full Story >>

New Delhi [India], Feb. 25 (ANI): A second suicide car bomber hit the location near a Syrian village near al-Bab that, earlier in the same day, saw another explosion. The twin blasts happened on Friday, just a day after Turkey-led forces established full control over the city.

Full Story >>

Beijing [China], Feb. 25 (ANI): China has hit back at U.S. President Donald Trump after he accused the country of being the 'grand champion of currency manipulation'.

Full Story >>

Beijing [China], Feb. 24 (ANI): China on Friday urged the Philippine Foreign Minister Perfecto Yasay to 'follow the trend of the times and exercise prudence on the South China Sea issue.'

Full Story >>

New York [USA], Feb. 24 (ANI): U.S. President Donald Trump said on Friday that his immigration policy is going to save 'countless American lives' as immigration officials are finding drug dealers and criminals and 'throwing them the hell out of' the country'.

Full Story >>

Beijing [China], Feb. 24 (ANI): The Chinese embassy in Myanmar has lodged representations to the Myanmar authorities following an assault by striking workers on a Chinese-invested garment factory in Yangon.

Full Story >>

Beijing [China], Feb. 24 (ANI): China's top legislature on Friday passed a revised law to boost the transparency and credibility of Red Cross societies in the country.

Full Story >>

Kathmandu [Nepal], Feb. 24 (ANI): Deliberations on the Constitution Amendment Bill finally started on Thursday, almost three months after it was registered at the Parliament Secretariat and a month and a half after it was tabled in Parliament, following the main opposition CPN-UML's decision to stay neutral.

Full Story >>

Faisalabad [Pakistan], Feb. 24 (ANI): A training school aircraft crashed in Faisalabad on Friday, killing the instructor and the trainee pilot.

Full Story >>

Trump rebukes FBI over failure to stop leaks

Updated: Feb 24, 2017 18:50 IST

New Delhi [India], Feb. 24 (ANI): U.S. President Donald Trump on Friday lambasted the Federal Bureau of Investigation (FBI) for being unable to stop the leaks to the media and directed them to find the leakers right away.

Full Story >>

Pakistan wants good ties with India: Sharif

Updated: Feb 24, 2017 18:14 IST

Ankara [Turkey], Feb. 24 (ANI): Asserting that Pakistan wants to have good ties with India, Prime Minister Nawaz Sharif has said both sides should maintain good relations and avoid indulging in conspiracies against each other.

Full Story >>

New York [USA], Feb. 24 (ANI): A preliminary report by the Chemistry Department of Malaysia has revealed that the chemical substance used to kill Kim Jong Nam was a VX nerve agent, an internationally-banned chemical weapon.

Full Story >>

Beijing [China], Feb. 24 (ANI): China should hire high-tech talent from India for maintaining its innovation ability, a Chinese state-run newspaper said on Friday.

Full Story >>

Kampala [Uganda], Feb.24 (ANI): Indian Vice President M. Hamid Ansari and Speaker of the Parliament of Uganda Rebecca A. Kadaga have reiterated the need for closer cooperation between the parliaments of the two countries, especially in the domain of capacity building and parliamentary exchanges.

Full Story >>

Lahore [Pakistan], Feb. 24 (ANI): Punjab Law Minister Rana Sanaullah said on Friday that yesterday's blast in Lahore's DHA was not an act of terror but an "accident", as forensic samples collected from the site had shown that the blast was a cylinder explosion.

Full Story >>