Maharashtra Chief Minister Devendra Fadnavis and Vietnamese President To Lam throughout a gathering in Mumbai
| Photo Credit:
PTI
Vietnam President To Lam met Adani group chairman Gautam Adani and senior executives from Larsen & Toubro and Oil and Natural Gas Corporation in Mumbai to debate funding and collaboration alternatives.
The interplay occurred on Thursday on the sidelines of the CII India-Vietnam Business Forum.
While Adani has plans to speculate $10 billion in Vietnam in varied sectors, ONGC is engaged in oil and fuel manufacturing within the nation. Larsen & Toubro has beforehand provided high-speed boats to Vietnam for its defence forces, and the corporate is trying to intensify its business partnership.
India and Vietnam have agreed to raise bilateral commerce to $25 billion by 2030, up from the current $16 billion.
MoUs Signed
On Wednesday, the 2 international locations additionally signed 13 MOUs and agreed to deepen co-operation in areas corresponding to digital funds, prescription drugs and uncommon earths, amongst others.
Tourism additionally stays a key driver of people-to-people ties. Vietnam has emerged as a well-liked vacation spot for Indians and was the fastest-growing abroad vacation spot in 2024. India can be eager to draw vacationers from Vietnam, pitching points of interest like Buddhist trails and the well-known Ajanta and Ellora caves.
Air connectivity
Speaking on the CII India Vietnam business discussion board, Maharashtra Chief Minister Devendra Fadnavis welcomed funding from Vietnam and proposed a rise in air connectivity between the 2 international locations.
Last month, Vietnam’s Vingroup dedicated to speculate $8.5 billion in Maharashtra in electrical mobility, infrastructure, tourism and leisure.
Published on May 7, 2026