Illustrative image (Photo: Internet)

Co-hosted by the Confederation of Indian Industry and the Indian Ministry of Commerce and Industry in the context of India assuming the presidency of G20, the event is expected to further strengthen partnerships and shape new economic cooperation among nations and businesses.

The Summit will focus on discussions about India's growth and how its reform and engagement in the region and the world will help rebalance the world and bring stability to the growth process.

High-level discussions will be held on the global and Indian trade and economy, G20/B20, competitiveness, resilient supply chains, geopolitics, geostrategic investments, sustainability, technology and the social dimension, with a focus on the opportunities and imperatives for countries and businesses to drive future strategies for growth, competitiveness and sustainable and inclusive development.

A total of 35 sessions are scheduled for the event, including seven standalone sessions with Indian ministers and national-level sessions for Indonesia and Cuba. It is attended by 145 speakers, including 65 international speakers from 24 countries and nearly 400 delegates from 67 countries.

During a working session with Indian Ambassador to Vietnam Sandeep Arya, Vietnamese Minister of Industry and Trade Nguyen Hong Dien suggested that India work closely with Vietnam to prevent supply chain and production disruptions in the region and the world, boost trade promotion activities, especially in providing market information, brand marketing for businesses of both countries, holding B2B matching events, and diversifying supply chains for raw materials, particularly in industries that both sides have strengths such as textile materials, leather and footwear, pharmaceuticals from India, agricultural and food products from Vietnam.

Two-way trade between Vietnam and India reached 15.05 billion USD for the first time last year, up 13.6% compared to 2021. India is now Vietnam's eighth largest trade partner.