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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.
Vietnam, India look to boost garment and textile cooperation ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – A seminar was held in Hanoi on May 11 to provide information of the Textile India 2017, whichwill take place in Ho Chi Minh City fromJune 30-July 2.

Director of the Hanoi centre for investment, trade and tourism promotion NguyenGia Phuong said the fair will offer a chance for Vietnamese textile andgarment firms to study potential of the textile industry and technical requirementsin the high value chain, thus seeking more markets for Vietnamese textileproducts.

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

According to Phuong, the India Government pledged to support Vietnamesebusinesses in doing market survey, and participating in international textile andgarment 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 Indianfirms to invest in Hanoi.

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

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

Expertssaid that this is a good time for Vietnamese andIndian textile and garment firms to enhance links in investing, exportingmaterials and technical assistance for mutual benefit.

According to statistics of the General Department of Customs, Vietnam’sexports 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 for1.8 percent of the city’s total exports.-VNA 
VNA
#Vietnam #India #Textile India 2017 #opportunity #garment firms #textile industry #technical requirements #high value chain #Vietnamese textile products #retail market #textile links India Vietnam
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