Indian textile sector spins yarns at expo

Twenty-four Indian leading enterprises are displaying the latest range of fabrics and yarns at the sixth Indian Textile Exhibition that opens today in downtown HCM City.

“The two-day event aims to strengthen trade ties between the two countries, particularly in the fastest growing man-made textiles sector,” said Srijib Roy, joint director of the Synthetic and Rayon Textiles Export Promotion Council of India (SRTEPC).

Products on display include suiting, shirting, dress materials, furnishings, home textiles, scarves, stoles, shawls, man-made fibers (MMF) and blends.

Abhay Thakur, Consul General of India in HCM City, said trade between Viet Nam and India has risen sharply in recent years, especially after the India-ASEAN free trade agreement took effect on June 1 this year.

In garment and textiles sector alone, bilateral trade between the two countries reached US$115 million in the first half of the year, an increase of more than four times compared to last year’s $25 million, he said.

He also called on Vietnamese companies to visit India to look for investment and trade opportunities.

Nguyen Van Tuan, deputy director of International Relations Department under the Viet Nam Chamber of Commerce and Industry (VCCI) in HCM City, said the garment and textile sector is one of the country’s key sectors, bringing in billions of dollars in export revenues each year.

He said there was significant potential for increasing sectoral ties between Viet Nam and India.

India is the second largest producer of rayon fibre and yarn and the fifth largest producer of synthetic fibre and yarn in the world. Indian MMF textiles are exported to more than 150 countries in the world today. — VNS

Tags: Indian Textile Exhibition, Indian textile sector