India For New Textile Raw Material Sources Of Vietnam

India For New Textile Raw Material Sources Of Vietnam

Deputy general secretary of Vietnam Textile and Garment Association (VITAS), Nguyen Thi Tuyet Mai said although Vietnam is one of the five biggest exporters of textiles in the world, but to achieve such a position, the country imported a large volumes of feedstock including yarn, fabric and others.

Depending on one or two sources will limit manufacturers’ production capacity and development. Seeking new sources is necessary for the industry to lessen its dependence on traditional sources in ASEAN and China.

Members of VITAS and the HCM City Association of Garments, Textiles, Embroidery and Knitting (AGTEK) agreed that India is one of the best alternative choices.

Many Vietnamese garment companies have visited India to explore co-operation opportunities and returned impressed with the country’s garment and textile industry. Many raw materials available in India fit their needs.

For a long time, Vietnam has imported garment and textile raw materials from China. It is now time to upgrade technologies as well as have more raw material sources.

Mai said that establishing co-operation with India is a good idea as its products have good quality and prices thanks to the free trade agreement signed between India and ASEAN.

Furthermore, garment and textile is among the products on which India would cut taxes in future. This is an opportunity for Vietnamese to find a new raw material source.

The Indian consulate in HCM City has promised strong support for Vietnamese companies seeking to tie up with their Indian counterparts.

The two governments have put garment and textile in the priority list for further development. Referring to the upcoming Textile India 2017 in Gujarat, officials said, exhibition would enable the Vietnamese companies to study the Indian garment and textile industry closely and identify new raw material sources.

They hoped a large Vietnamese delegation would attend the event beginning in Ahmedabad, a garment and textile exhibition, where they could find all the products from yarn and fibre and cotton.

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