India, Vietnam Strengthen Ties in Pharmaceutical Trade and Collaboration

A total of 39 Indian pharmaceutical firms engaged with over 50 Vietnamese partners, participating in productive discussions at an ‘India-Vietnam Business-to-Business (B2B)’ meeting focused on the pharmaceutical sector held in Ho Chi Minh City, Vietnam, on Monday. Comprehensive discussions were held on regarding Indo-Vietnam business relations at the event, which aimed to enhance the pharmaceutical exchange between India and Vietnam. 

The Consulate General of India in Ho Chi Minh, the Pharmaceuticals Export Promotion Council of India, and the Vietnam Chamber of Commerce and Industry backed the meeting. During his trip to India in July 2024, Vietnamese Prime Minister Pham Minh Chinh urged for enhanced economic collaboration between the two countries, establishing an ambitious goal of $20 billion in trade between them. 

While addressing a Vietnam-India Business Forum in New Delhi, arranged by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Vietnamese Embassy, he highlighted his country's economic successes and encouraged Indian companies to invest in key areas such as infrastructure, digital technology, and pharmaceuticals. Currently, Vietnam obtains 33 percent of its pharmaceuticals from India and has shown an interest in developing a comprehensive pharmaceutical ecosystem within the country to ensure the health and well-being of its citizens.