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VCCI News

Last updated: Tuesday, September 25, 2018

 

Tamil Nadu Roadshow 2018 to Enhance Vietnam - India Food Industry Cooperation

Posted: Monday, June 18, 2018

The Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI-HCM), in cooperation with the Consulate General of India, recently introduced the Vibrant Tamil Nadu Global Food Expo & Summit 2018 in Madurai, India, from August 12-15, 2018.

The state of Tamil Nadu is the second-largest economy of India which gathers more than 500 giant corporations from across the world, including Samsung, Nokia, Ford, IBM and Huawei. The state was also a top food producer in 2017, thus making it an ideal destination for this global exhibition on foods and drinks.

Mr Nguyen The Hung, Deputy Director of VCCI-HCM, said, through the upcoming Vibrant Tamil Nadu Expo & Summit 2018, Vietnam's agricultural products and drinks will be introduced, penetrate India and become known to international exhibitors there.

The roadshow for the Vibrant Tamil Nadu Expo & Summit 2018 is one of practical activities that VCCI has coordinated with relevant Indian agencies to support Vietnamese and Indian businesses, in addition to boosting bilateral trade cooperation.

The Vibrant Tamil Nadu Expo & Summit focuses on the food industry. India is presently the world’s second largest producer of vegetables, seafood and poultry meat, the world’s largest producer of dairy, with estimated 155.5 million metric tonnes (accounting for 19 per cent of the world’s total output). India is the sixth largest food and foodstuff market on the globe, with the retail sector contributing 70 per cent of sales.

In 2017, India was the 12th largest trading partner of Vietnam. The two-way trade value reached US$7.63 billion. Currently, the two countries are striving to raise the bilateral trade value to US$15 billion by 2020.

In Vietnam, the food processing industry is among industries prioritised for development to increase the output and value of agricultural, forest and aquatic products and processed foods, and play an important role in promoting exports, creating jobs, raising incomes for workers and accelerating socio-economic development.

Vietnam’s food processing industry recorded US$19 billion of export value in 2017. Particularly, key exports maintained good growth.

According to the General Statistics Office (GSO), the food and drink industry currently makes up about 15 per cent of Vietnam’s gross domestic product (GDP). The market size of over 95 million people combined with the fast -growing consumer trend is a great advantage for this industry. According to the Business Monitor International (BMI), Vietnam's food industry is forecast to stage strong growth until 2020, with an average annual growth of 10.9 per cent.

Similarly, the Indian food processing industry accounts for 32 per cent of the country’s total food market, one of the largest industries in India, ranked fifth by output, consumption, export and expected growth. The Indian food market is currently worth US$1.3 billion and has a compound annual growth rate (CAGR) of 20 per cent.

According to a representative from the Indian Consulate General, the Indian government relaxed its foreign direct investment (FDI) restrictions on this sector, allowing wholly foreign-owned investment in foodstuff e-commerce and creating a broad market for consumers.

The Tamil Nadu Roadshow will provide an opportunity to promote global business partnerships. This exhibition aims to bring together all related businesses from “farm to fork”, i.e. from farmers to food processors, producers, traders, exporters and importers on domestic and international markets.

All stakeholders can register to attend the event at http://www.vibrantTamil Nadu.com/. The organisers will provide free three-night accommodations at the STAR Hotel, and support local transportation, including airport pickups and drop-offs, free meals and factory visits for foreign exhibitors.

Viet Hung








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