India is keen on boosting the trade in chemicals and cosmetics in Vietnam because the Southeast Asian country has become its potential market in recent years.
Vietnam is a promising destination for Indian businesses to export dyes, dye intermediates and basic chemicals to, S. G. Bharadi, acting executive director of the Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council (CHEMEXCIL), said on Tuesday.
CHEMEXCIL’s statistics showed that India’s exports of these products to Vietnam have reached US$114.02 million in the last two years, an increase of 5.85 percent compared to the preceding period.
The figures were provided on the occasion of a trade exchange and exhibition dedicated to India’s chemicals and cosmetics to take place on January 7 and 8 in District 1, Ho Chi Minh City.
The free-admission event will be held from 9:00 am to 5:00 pm at Rex Hotel, featuring around 50 Indian businesses specializing in organic and inorganic chemical products, including pesticides, cosmetics, dyes and pastels.
It will be jointly organized by the Indian Consulate General in Vietnam, the office of the Vietnam Chamber of Commerce and Industry in Ho Chi Minh City, and CHEMEXCIL.
Apart from promoting the export of chemical products manufactured in India, the South Asian country’s government also wants to encourage multinational companies to establish global manufacturing centers in India, including Vietnamese investors.
CHEMEXCIL was set up by the Indian Ministry of Commerce and Industry in 1963 with the objective of promoting exports of dyes and dye intermediates, basic inorganic and organic chemicals, cosmetics, soaps, toiletries and essential oils, and others to various countries abroad, the organization said on its website.