Vietnamese exporters stand to gain 633 million USD from increased trade with India
(VOVWORLD) - Vietnamese businesses could increase exports to India by 633 million USD annually, a Standard Chartered Trade Opportunity Report has revealed.
The study found that Indian exporters could boost trade with Vietnam by an estimated 475 million USD, bringing bilateral trade to 1.1 billion USD.
When markets rebound after the COVID-19 pandemic, global trade will be a key part of economic growth. Vietnam’s retails and whole sales can potentially increase exports to India by 87 million USD, while transportation and logistics services to India could see an increase of 86 million USD.
Other Vietnamese sectors with significant opportunities in India are cotton thread, yarn, and fabric, office admin and other business support services, and knitted clothing.
India is now one of Vietnam’s top 10 important trading partners.