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Maharashtra Pledges Stronger India-Vietnam Ties, Invites Investment from VinGroup

Maharashtra Chief Minister Devendra Fadnavis reaffirmed the state's commitment to strengthening ties with Vietnam during President To Lam's Mumbai visit. He invited Vietnamese investors, highlighting a proposed $6.5 billion investment by VinGroup. Fadnavis proposed a Buddhist tourism circuit and direct flights between Chhatrapati Sambhajinagar and Ho Chi Minh City. President To Lam outlined five pillars for future cooperation and emphasized sectors like EVs, infrastructure, and technology.

Key Points: Maharashtra Committed to Strengthening India-Vietnam Ties

  • CM Fadnavis invites Vietnamese investment in Maharashtra
  • VinGroup proposes $6.5B investment, largest from Southeast Asia
  • Direct flights and Buddhist tourism circuit proposed
  • Five pillars of cooperation outlined by President To Lam
3 min read

Maharashtra committed to strengthening India-Vietnam ties: CM Fadnavis

CM Devendra Fadnavis invites Vietnamese investment, highlights $6.5B VinGroup proposal, and proposes Buddhist tourism circuit during President To Lam's Mumbai visit.

"Mumbai and Pune's pharmaceutical sectors are world-class. Maharashtra has the capacity to become a reliable supplier of affordable generic medicines and vaccines to Vietnam. - CM Devendra Fadnavis"

Mumbai, May 7

Maharashtra Chief Minister Devendra Fadnavis on Thursday said the state was ready to act as a reliable partner in strengthening ties between India and Vietnam. He reaffirmed the state government's commitment to deepening cultural, economic, and people-to-people relations with Vietnam.

Addressing the India-Vietnam Business Forum during Vietnamese President To Lam's one-day visit to Mumbai, Fadnavis invited Vietnamese entrepreneurs to invest in Maharashtra.

Chief Minister Fadnavis congratulated Prime Minister Narendra Modi and President To Lam for elevating the India-Vietnam partnership to an "Enhanced Comprehensive Strategic Partnership". Highlighting Maharashtra's rich Buddhist heritage, he referred to the significance of Nagpur, where Dr Babasaheb Ambedkar gave Buddhism a modern foundation.

He also invited Vietnamese investors and tourists to visit the UNESCO World Heritage Sites of Ajanta and Ellora. He proposed the establishment of a dedicated Buddhist tourism circuit, the launch of direct flight services between Chhatrapati Sambhajinagar and Ho Chi Minh City, and the organisation of an annual Maharashtra-Vietnam Business Council meeting alternating between Mumbai and Ho Chi Minh City.

Noting the similarities between Mumbai and Ho Chi Minh City, Fadnavis welcomed the recent agreements signed between the two cities. He specifically highlighted a proposed $6.5 billion investment in Maharashtra by Vietnamese conglomerate VinGroup, describing it as the largest investment proposal from Southeast Asia.

"Mumbai and Pune's pharmaceutical sectors are world-class. Maharashtra has the capacity to become a reliable supplier of affordable generic medicines and vaccines to Vietnam," the Chief Minister said.

He further invited investments in sectors such as energy, information technology (IT), pharmaceuticals, healthcare, tourism, infrastructure, and manufacturing hubs located in Mumbai, Pune, Nagpur, and Gadchiroli.

President To Lam said both nations must take the lead in industry, technology, infrastructure, and trade to further strengthen their comprehensive economic partnership. Recognising Mumbai as India's principal economic and industrial centre, he emphasised the need to provide a fresh direction to bilateral relations.

President To Lam noted that bilateral trade between the two countries was steadily increasing, thereby strengthening the economic foundations of both nations. He identified electric vehicles (EVs), infrastructure, technology services, and energy as high-potential sectors for future collaboration.

The President also outlined five pillars for future cooperation, including trade facilitation and easing investment procedures, enhancing economic cooperation, strengthening infrastructure and logistics connectivity, promoting skill development, and leveraging shared technological expertise.

The forum concluded with the signing of several Memorandums of Understanding (MoUs) between industries from both countries in the presence of President To Lam and Deputy Chief Minister Eknath Shinde.

- IANS

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Reader Comments

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Sarah B
It's great to see India leveraging its Buddhist heritage to connect with Vietnam. The idea of a Buddhist tourism circuit connecting Nagpur, Ajanta, and Ellora is brilliant. As someone who has visited both Ajanta and Ellora, I can say these are world-class sites. Direct flights from Sambhajinagar to Ho Chi Minh City would boost tourism and business ties. đź‘Ź
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Arjun K
Finally, our government is focusing on Southeast Asia beyond just ASEAN summits. Vietnam is a rising economic power and partnering with them makes sense. I like that Fadnavis mentioned Maharashtra's pharmaceutical sector - we can definitely supply affordable medicines to Vietnam. But I hope the MoUs signed actually translate into real projects and not just remain on paper like many previous agreements.
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Kavya N
This is a well-thought-out initiative. Vietnam and India share historical and cultural ties through Buddhism, and now we're building on that with economic partnerships. The five pillars outlined by President To Lam cover all bases - trade, infrastructure, skills, technology. Let's hope this brings tangible benefits to common people in both countries. 🤝
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Rohit L
While this sounds promising, I have some concerns. When we invite foreign investment, we must ensure it doesn't come at the cost of local MSMEs. Also, why is Gadchiroli being mentioned for manufacturing hubs? That region has Naxal issues and poor infrastructure. First, develop the region, then invite investment. Otherwise, it's just another photo op.
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James A
As someone who works in the EV sector, I'm excited about the possibility of collaboration with Vietnam in electric vehicles. Vietnam

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