India-Vietnam Ties - Business Outrank

Pharma industry collaboration was a key highlight at the India-Vietnam Business-to-Business (B2B) meeting held in Ho Chi Minh City, where 39 Indian pharmaceutical companies met more than 50 Vietnamese counterparts. The event was held on March 3, 2025 and was supported by the Consulate General of India, the Pharmaceuticals Export Promotion Council of India and the Vietnam Chamber of Commerce and Industry. The discussions were on how to improve pharmaceutical trade and investment between the two countries. Vietnam gets about 33% of its pharma requirements from India and is planning to build a sustainable pharmaceutical supply chain to enhance healthcare delivery. Indian firms wanted to increase their presence in Vietnam and build strong relationship in the healthcare sector. The Vietnamese Prime Minister Pham Minh Chinh has once demanded the establishment of a stronger economic partnership when he visited India in July, 2024 and set his sight on $20 billion in bilateral trade. At the Vietnam-India Business Forum in New Delhi, he asked Indian entrepreneurs to come and invest in important industries including semiconductors, digital transformation, green hydrogen and pharmaceuticals. India and Vietnam are neighboring countries with a history of friendship, the relationship between the two countries has been upgraded to a Comprehensive Strategic Partnership when Prime Minister Narendra Modi paid a visit to Vietnam in 2016. India has listed Vietnam as one of the partners in its ‘Act East’ policy and a significant member of its Indo-Pacific strategy. As the two countries increase their cooperation in the pharma, infrastructure and technology sectors, both countries aim to increase their trade and investment partnership. The latest business meeting also established India as a major pharmaceutical supplier to Vietnam and reaffirmed the two countries’ commitment to work together for the long term in the healthcare sector.

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