India, which supplies 2 percent of the inputs used by the Vietnamesetextile and garment industry, wants to increase it to 25 percent in thenext five years, according to the Cotton Textiles Export PromotionCouncil of India (TEXPROCIL).
Speaking at a Vietnam – IndiaTextile and Garment business forum in Ho Chi Minh City on August 8,TEXPROCIL's Chairman Manikam Ramaswami said Vietnam was the fifthlargest garment and textile exporter in the world and had achieved animpressive growth rate.
However, it had to import a lot of theraw materials while India was the world's second largest producer ofmaterials like cotton, cloth and fibre, he said.
Cooperationbetween the two countries would help Vietnamese enterprises diversifytheir raw material sources and sell high-quality products to theinternational market, he added.
Siddhartha Rajagopal, TEXPROCIL'sexecutive director, said Vietnam needed huge quantities ofright-priced, quality woven and knit fabrics to continue its growthmomentum.
" India could be an economical source of quality yarnsand fabrics to bridge the gap and make garments even more competitivefor Vietnam ."
Vietnam's import of yarns and fabrics fromIndia accounted for only 2 percent of its needs, and India ’s aim is“to look at a 25 percent market share in the short term," he added.
DeputyDirector General of the Vietnam Trade Promotion Agency Bui Thi Thanh Ansaid trade between Vietnam and India sharply increased in recentyears, reaching 5.2 billion USD last year, of which Vietnam'sexports accounted for 2.3 billion USD.
Garment and textile trade also saw considerable growth in recent years, she said.
TheIndian delegation, which visited Vietnam from August 4-8 to explorebusiness opportunities, comprised executives from 12 leading textileand garment companies.-VNA
Speaking at a Vietnam – IndiaTextile and Garment business forum in Ho Chi Minh City on August 8,TEXPROCIL's Chairman Manikam Ramaswami said Vietnam was the fifthlargest garment and textile exporter in the world and had achieved animpressive growth rate.
However, it had to import a lot of theraw materials while India was the world's second largest producer ofmaterials like cotton, cloth and fibre, he said.
Cooperationbetween the two countries would help Vietnamese enterprises diversifytheir raw material sources and sell high-quality products to theinternational market, he added.
Siddhartha Rajagopal, TEXPROCIL'sexecutive director, said Vietnam needed huge quantities ofright-priced, quality woven and knit fabrics to continue its growthmomentum.
" India could be an economical source of quality yarnsand fabrics to bridge the gap and make garments even more competitivefor Vietnam ."
Vietnam's import of yarns and fabrics fromIndia accounted for only 2 percent of its needs, and India ’s aim is“to look at a 25 percent market share in the short term," he added.
DeputyDirector General of the Vietnam Trade Promotion Agency Bui Thi Thanh Ansaid trade between Vietnam and India sharply increased in recentyears, reaching 5.2 billion USD last year, of which Vietnam'sexports accounted for 2.3 billion USD.
Garment and textile trade also saw considerable growth in recent years, she said.
TheIndian delegation, which visited Vietnam from August 4-8 to explorebusiness opportunities, comprised executives from 12 leading textileand garment companies.-VNA
