Supporting Vietnamese business community in accessing Indian market

The seminar attracted representatives from nearly 100 Vietnamese enterprises operating in various sectors such as food, seafood, agricultural processing, electrical equipment, furniture, logistics, tourism, and technology.

In his opening remarks, Bui Trung Thuong, Trade Counsellor of Viet Nam in India, stated that India is currently the world’s fourth-largest economy with a population of over 1.46 billion. Alongside stable economic growth, India’s rapidly expanding middle class is driving increasing demand for consumption, investment, and trade. In the context of global efforts to diversify supply chains and seek alternative markets, India is emerging as a new regional and global hub for manufacturing, consumption, and transshipment.

According to Trade Counsellor Bui Trung Thuong, Viet Nam and India have complementary economic cooperation potential without direct competition. However, bilateral trade turnover has not fully reflected this potential, partly due to the limited presence of Vietnamese businesses in the Indian market.

In recent times, several pioneering Vietnamese enterprises have boldly established legal entities, invested in production, and opened representative offices in India.

Although the initial process faced various legal and administrative challenges, the outcomes demonstrated clear effectiveness, contributing to market expansion and improving access to local consumers and partners.

Assessing the potential for Viet Nam-India cooperation, Trade Counsellor Bui Trung Thuong noted that during the 2025–2030 period, Viet Nam–India cooperation is expected to expand in both depth and scale. Bilateral trade turnover could reach 20 billion USD if the two sides sign a bilateral trade and investment agreement. This will be followed by increased investment in production and mutual investment. In this context, Vietnamese enterprises can fully expand their operations in the Indian market if provided with adequate legal and promotional support.

Speaking at the seminar, Manan Agarwal, CEO of Indian consultancy firm KrayMan Consultants LLP, provided in-depth and practical guidance on suitable business types for foreign investors in India; the process, timeframe, and documentation for registering legal entities; regulations on taxation, foreign direct investment (FDI), and repatriation of profits; procedures for opening bank accounts, tax payments, and periodic reporting; common mistakes and effective approaches when entering the Indian market for the first time.

At the seminar, the Viet Nam Trade Office in India and representatives from Indian business associations provided clear, practical, and context-appropriate guidance tailored to Vietnamese enterprises, helping them understand the entire process of business registration and investment in India, as well as compliance with local legal regulations.

On this occasion, representatives of several Vietnamese enterprises also shared real-world experiences of registering businesses in India independently.

Link to the original article