The Ministry of Industry and Trade has warned local companies of challenges when doing business with Indian partners during the South Asian country's Covid-19 outbreak.
According to the ministry’s Asian Market Department, Covid-19 pandemic in India has remained complicated with the high rise in the number of new infections and deaths.
The lockdown in many areas in India has hard-hit local ports, banks and businesses. The capacity of major Indian ports such as Mundra, Nhava Sheva, Chennai and Kolkata have dropped by half due to staff shortages. Many banks in India are only operating 2-3 days per week with 30-50% of their staff. Banks with Covid-19 infections have to close for 1-2 weeks. This has meant transactions at banks or online in India have been seriously affected.
The Ministry of Industry and Trade has advised Vietnamese companies to carefully consider Indian regulations and policies amid the pandemic before deciding their transactions with Indian partners. Vietnamese firms need to ensure they work with reliable Indian partners.
The ministry said that Vietnamese companies should think of possible risks and difficulties as India is being hard hit by Covid-19. It is important for them to carefully discuss transportation, payment and dispute settlement issues before signing contracts with Indian firms. Firms should also ensure they are insured.
During the contract implementation process, it is necessary to contact Indian partners to remain up-to-date about the Covid-19 situation, local measures as well as customs clearance at local ports and banking operations in India.
Firms warned of difficulties amid Indian Covid-19 outbreak
The Ministry of Industry and Trade has warned local companies of challenges when doing business with Indian partners during the South Asian country's Covid-19 outbreak.
Source: dtinews.vn
