Vietnam

In the last decade, Vietnam’s economy recorded a high and relatively stable growth rate of about seven per cent per annum. The country’s rapid economic growth can be observed in the development of several key sectors such as agricultural production (coffee, rubber, pepper, cashew, cassava and rice), light manufacturing (apparel, footwear and electronics) and tourism.

Trade and investment between India and the Greater Mekong Sub-region (GMS) countries of Cambodia, Thailand and Vietnam is relatively low in comparison to India’s trade with the rest of the world. GMS countries offer many opportunities for Indian businesses given their geographic and cultural proximity and their involvement in similar global value chains such as automotive, garments and pharmaceuticals.