Vietnam, India Look to Boost Garment and Textile Cooperation

A seminar was held in Hanoi on May 11 to provide information of the Textile India 2017, which will take place in Ho Chi Minh City from June 30-July 2.

Director of the Hanoi centre for investment, trade and tourism promotion Nguyen Gia Phuong said the fair will offer a chance for Vietnamese textile and garment firms to study potential of the textile industry and technical requirements in the high value chain, thus seeking more markets for Vietnamese textile products.

The fair will also help boost market links, which will make it easier for Vietnamese textile and garment businesses to make inroads into India’s retail market.

According to Phuong, the India Government pledged to support Vietnamese businesses in doing market survey, and participating in international textile and garment fairs in the country, helping them to partner with Indian firms.

At the event, Vietnamese firms were updated on the Vietnam-India textile cooperation, business opportunities for the two sides’ enterprises, and chances for Indian firms to invest in Hanoi.

Vietnam and India boast great potential to enhance textile links, especially in investing and exporting textile materials.

India’s export turnover of textile and garment materials to Vietnam in recent years averagely increases about 20 percent a year.

Experts said that 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.

According to statistics of the General Department of Customs, Vietnam’s exports to India rose 8.7 percent to 2.68 billion USD in 2016. Of which, textile export turnover hit over 33.7 million USD, up 8.2 percent against 2015.

Hanoi’ export turnover to India was valued at 192 million USD, accounting for 1.8 percent of the city’s total exports.