Indian Companies Eye Strengthened Textile And Garment Links With Vietnam

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Indian Companies Eye Strengthened Textile And Garment Links With Vietnam

Indian textile and garment companies eyeing trade co-operation with Vietnamese enterprises, said Indian Consul General in Ho Chi Minh City Smita Pant at a recent press conference in Ho Chi Minh City to introduce the Textiles India 2017.

According to a Vietnamese media report which quoted Smita Pant, textile and garment is one of the leading important industries which the two nations need to foster co-operation by promoting trade, attracting investment and increasing export turnover.

Ronak Roughani, Vice President of the Synthetic and Rayon Textile Export Promotion Council (SRTEPC) of India said that apparels are a large proportion of India’s exports.

India’s export turnover of textile and garment materials to Vietnam in recent years has seen an average increase at about 20% a year. This is a good time for Vietnamese and Indian textile and garment firms to enhance links in investing, exporting materials and technical assistance for mutual benefit, he said.

Dang Thi Tuyet Mai, Vice General Secretary of the Vietnam Textile and Apparel Association (VITAS), said that Vietnam is one of the five largest textile and garment exporters in the world, with its textile and garment export turnover hitting about US $ 28.5 billion in 2016.

However, the country is also one of the world’s leading importers of fabric and materials. The shortage of high-quality materials for production is the biggest barrier to Vietnam’s textile and garment industry, hindering the country from taking advantages of free trade agreements.

Pham Xuan Hong, Chairman of the HCM City Association of Garment Textile Embroidery and Knitting (AGTEK) said Vietnamese textile and garment firms appreciate the quality and competitive price of materials from India, stressing that co-operating with India businesses is an effective measure to diversify material supply resources for Vietnam.

Vietnamese firms should intensify trade promotion programmes and participate in exhibitions and trade promotion events, he suggested, saying that these will offer opportunities for them to seek more material suppliers, and learning from effective business and production models, he said.