Maharashtra CM Devendra Fadnavis: India, Vietnam Entrepreneurs to Shape Asia's Future

Speaking at the India-Vietnam Business Forum here, Fadnavis said India and Vietnam offer the world a trusted partnership, stable governance, economic dynamism and long-term strategic confidence at a time when geopolitical uncertainty is increasing globally.

"At a time when the world faces geopolitical uncertainty and economic fragmentation, India and Vietnam offer something important to the world, trusted partnership, stable governance, economic dynamism and long-term strategic confidence," he said.

He added that the 21st century would be shaped significantly by Asia and that India and Vietnam stand out as trusted and future-oriented partners.

"The future of Asia will be built by entrepreneurs, innovators, investors, technology leaders, manufacturers and young people from countries like India and Vietnam working together, suitably enabled by the government," Fadnavis stated.

The India-Vietnam Business Forum was organised in Mumbai on Thursday to strengthen strategic and economic ties between the two countries and brought together government officials, policymakers, industry leaders and businesses to discuss opportunities in trade and investment.

Highlighting Vietnam's economic progress, Fadnavis said Vietnam is one of the fastest-growing economies in the world with GDP exceeding USD 500 billion, supported by strong manufacturing capabilities, high literacy levels, digital adoption and export competitiveness.

At the same time, he said Maharashtra has emerged as one of India's fastest-growing states and currently has an economy worth USD 660 billion.

According to the Chief Minister, Maharashtra contributes nearly 15 per cent to India's GDP and attracts around 40 per cent of India's foreign direct investment (FDI).

He said the state is home to India's financial capital, largest port and airport ecosystem, strongest startup ecosystem, largest data centre capacity, leading automobile manufacturing base and globally competitive technology sector.

Fadnavis highlighted cities such as Mumbai, Pune and Navi Mumbai as major economic and innovation hubs. He said Navi Mumbai is emerging as an important urban growth centre with a new international airport, logistics infrastructure, innovation districts and manufacturing capabilities.

He also referred to the recent investment commitment by Vietnam's VIN Group, which signed a USD 6.5 billion investment agreement with Maharashtra in sectors including electric vehicles, renewable energy, smart cities, hospitality, pharmaceuticals, IT and tourism.

"This is among the largest investment commitments from Southeast Asia into Maharashtra and we are fully committed to ensuring rapid implementation," he said.

Fadnavis invited more Vietnamese companies to invest in Maharashtra and described the state as Vietnam's preferred gateway to India.

He also pointed to growing cooperation opportunities in sectors such as electric vehicles, battery ecosystems, semiconductors, logistics, maritime infrastructure, pharmaceuticals, fintech, tourism, AI, cyber security and digital technologies.

The Chief Minister further stressed the need for stronger connectivity between Mumbai and Ho Chi Minh City, saying both cities are commercial powerhouses of their respective countries.

He said the twinning agreement between the two cities should expand into practical cooperation in urban transport, fintech, startup ecosystems, tourism, skill development, smart city planning and maritime commerce.

Fadnavis also called for stronger direct aviation connectivity between Maharashtra and Vietnam to support rising tourism and business exchanges.

"Maharashtra is ready to be Vietnam's strongest partner in India," he said, adding that the partnerships announced during the forum would help shape a new chapter in India-Vietnam relations.

- ANI