Local textile and clothing businesses are revealing a growing appetite for Indian material sources, the Vietnam Investment Review reported.
Executives at a number of major players in the textile sector, such as Vinh Phu Textile (Vifutex), Dong Xuan Knitwear, and Phu Bai Fibre have just completed market surveys in India hoping to find potential material suppliers.
According to Dong Xuan Knitwear Deputy General Director Pham Ngoc Diep, India is home to sizable private businesses producing textile and garment materials and accessories that serve the diverse demands of customers, and teaming up with Indian partners in building material production plants in both countries would be a smart move.
“Going in this direction is feasible, as Vietnam is a world leader in textile and garment exports and India has a textile and garment production value of 100 billion USD every year. Boosting cooperation in material production could be a strong move, and if so, the sooner the better,” Diep told the VIR.
As a major textile and garment producer, India has huge advantages in fibres and textiles, annually supplying world markets with more than 25 percent of cotton and material demand.
Vietnam however only sources 3 percent of its sector’s materials from India.
In a bid to increase this figure, the Indian general consulate in Ho Chi Minh City recently hosted an event to kick-off the “Made in India” campaign, that is aimed at turning the country into a major textile and garment materials and accessories production and supply venue worldwide.
Through field market surveys in India, Bui Phuong Ngoc, Director of Vifutex realised that India had significant strengths in the textile dyeing and cloth finishing phase.
“Our company is currently in negotiations with some Indian partners to make joint investments and transfer advanced dyeing technologies to Vietnam,” Ngoc was quoted by the VIR as saying.
Leading Indian textile groups such as SRF, Supreme Nonwovens, Century Enka, Techfab India and Pacific Non Woven are searching for Vietnamese partnerships.
Phu Bai Fibre, which has seven affiliates and a supply capacity of 32,400 tonnes of fibre a year, is scaling up efforts to find Indian partners to push up production and enhance competitiveness.
According to the company’s General Director Bui Nguyen Tien, Phu Bai is good at making fibres and the Indian side has advanced dyeing technology, so forming joint ventures at Vietnamese specialised industrial zones would be beneficial to both sides.
“We expect to reach cooperative deals with Indian partners in this field, as it is a current bottleneck in Vietnam’s textile and clothing industry,” Tien told the VIR.-VNA
Executives at a number of major players in the textile sector, such as Vinh Phu Textile (Vifutex), Dong Xuan Knitwear, and Phu Bai Fibre have just completed market surveys in India hoping to find potential material suppliers.
According to Dong Xuan Knitwear Deputy General Director Pham Ngoc Diep, India is home to sizable private businesses producing textile and garment materials and accessories that serve the diverse demands of customers, and teaming up with Indian partners in building material production plants in both countries would be a smart move.
“Going in this direction is feasible, as Vietnam is a world leader in textile and garment exports and India has a textile and garment production value of 100 billion USD every year. Boosting cooperation in material production could be a strong move, and if so, the sooner the better,” Diep told the VIR.
As a major textile and garment producer, India has huge advantages in fibres and textiles, annually supplying world markets with more than 25 percent of cotton and material demand.
Vietnam however only sources 3 percent of its sector’s materials from India.
In a bid to increase this figure, the Indian general consulate in Ho Chi Minh City recently hosted an event to kick-off the “Made in India” campaign, that is aimed at turning the country into a major textile and garment materials and accessories production and supply venue worldwide.
Through field market surveys in India, Bui Phuong Ngoc, Director of Vifutex realised that India had significant strengths in the textile dyeing and cloth finishing phase.
“Our company is currently in negotiations with some Indian partners to make joint investments and transfer advanced dyeing technologies to Vietnam,” Ngoc was quoted by the VIR as saying.
Leading Indian textile groups such as SRF, Supreme Nonwovens, Century Enka, Techfab India and Pacific Non Woven are searching for Vietnamese partnerships.
Phu Bai Fibre, which has seven affiliates and a supply capacity of 32,400 tonnes of fibre a year, is scaling up efforts to find Indian partners to push up production and enhance competitiveness.
According to the company’s General Director Bui Nguyen Tien, Phu Bai is good at making fibres and the Indian side has advanced dyeing technology, so forming joint ventures at Vietnamese specialised industrial zones would be beneficial to both sides.
“We expect to reach cooperative deals with Indian partners in this field, as it is a current bottleneck in Vietnam’s textile and clothing industry,” Tien told the VIR.-VNA
