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 function to introduce the Textiles India 2017 in Vietnam.
Pant says, textile and garment is a leading industry where 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 adds 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 of about 20 per cent a year. This is a good time for Vietnamese and Indian textile and garment firms to enhance investments, export materials and technical assistance for mutual benefit.
However, Vietnam is also one of the world’s leading importers of fabric and materials. Shortage of high-quality materials for production is the biggest barrier to Vietnam’s textile and garment industry, hindering it from taking advantage of free trade agreements.
Pham Xuan Hong, Chairman of the HCM City Association of Garment Textile Embroidery and Knitting (AGTEK) observed Vietnamese textile and garment firms appreciate the quality and competitive price of materials from India, stressing co-operating with India businesses is an effective measure to diversify material supply resources for Vietnam.