New Delhi, May 7: A significant meeting took place on Wednesday in the national capital, aimed at enhancing economic and strategic cooperation between India and Vietnam. The finance ministers of both countries engaged in detailed discussions regarding the global economy, changing geopolitical conditions, and new avenues for future collaboration.
The Ministry of Finance shared a post on the social media platform X, revealing that Union Finance Minister Nirmala Sitharaman met with Vietnam’s Finance Minister Ngo Van Tuan in New Delhi. The meeting emphasized strengthening the comprehensive strategic partnership that has been in place for a decade.
During the discussions, both leaders exchanged views on the global economy and current geopolitical challenges. They also explored ways to work together to enhance economic stability and resilience. Vietnam expressed a strong interest in increasing collaboration with India, particularly in technology, innovation, energy, and the pharmaceutical sector.
Minister Sitharaman praised Vietnam’s robust economic policies and reforms, noting that these changes have bolstered Vietnam’s global competitiveness and improved its integration into the global value chain.
In turn, the Vietnamese finance minister commended India’s strong economic policies, showing particular interest in understanding India’s model of economic growth through tax reforms, the development of the MSME sector, and public investment.
The meeting provided insights into India’s initiatives supporting the MSME sector, including tax reforms, interest subsidies, government procurement policies, and AI skills training for the workforce.
Additionally, the government highlighted the ‘faceless assessment’ and technology-based systems adopted to simplify and enhance transparency in the tax system.
Minister Sitharaman also shared information about the PM Gati Shakti platform, a modern, technology-driven system for infrastructure development, which garnered significant interest from Vietnam.
She recalled her visit to Vietnam during her tenure as Defense Minister, underscoring the strong and cordial relations between the two nations. The meeting reaffirmed the shared commitment to deepen the India-Vietnam comprehensive strategic partnership and expand cooperation in key sectors.
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