Vietnam’s largest conglomerate, Vingroup, signed a memorandum of understanding with Telangana’s state government on Tuesday. The Vietnam-based company wants to establish a $3 billion multi-sector ecosystem in the southern Indian state.
The multi-sector ecosystem includes urban development, electric mobility, healthcare, education, tourism, and renewable energy across 2,500 hectares (6,177 acres). The Government of Telangana will facilitate land allocation and fast-track approvals and planning coordination.
“We are committed to positioning Telangana as the gateway for Vietnamese and South-East Asian investment into India’s fastest-growing economy,” said Sanjay Kumar, Special Chief Secretary of the Telangana government.
The $3 billion project is Vingroup’s largest potential investment outside Vietnam, surpassing the $2 billion VinFast factory under construction in North Carolina, United States. This significant move expands Vingroup’s presence in India, where its electric vehicle arm, VinFast, has a manufacturing company in Tamil Nadu.
Last week, VinFast proposed a $500 million development of the Tamil Nadu plant as it accelerates the plans to tap India’s fast-growing EV market. Vingroup recorded a net profit of 7.565 trillion dong ($287.42 million) for the first nine months of 2025, twice the income from the same period in 2024.
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However, the generated profit has increased total debt to $12.35 billion as of September 2025, with around half of it tied to bank loans and syndicated credit facilities.
