Vietnamese garment and textiles attract Indian businesses

The Vietnam Chamber of Commerce and Industry (VCCI) branch in Ho Chi Minh City in coordination with the Cotton Textiles Export Promotion Council of India (TEXPROCIL) held a seminar on Vietnam-India garment exchange in Ho Chi Minh City on June 29.

Two-way trade turnover between Vietnam and India has increased significantly in recent years. Import-export value between the two countries reached more than US$2.7 billion in 2010, including US$991.63 million worth of Vietnam’s exports to India.

India is one of Vietnam’s 20 leading importers and 10 biggest exporters.

TEXPROCIL President, Amit Ruparelia said India is a main supplier of garment material for Vietnam.

Indian businesses are keen to introduce new materials to Vietnamese importers through the seminar, Amit said.

Vietnam is one of the world’s top ten garment exporters. In the first half of this year, the country’s garment export hit US$6.16 billion, up 30 percent over the same period last year.

Exports in June alone hit US$1.15 billion, up 11 percent compared to May, the highest growth seen in the first months of four consecutive years.

It is expected that garment exports will reach US$13.2-13.5 billion in 2011.

Vo Tan Thanh, a representative from VCCI said that the seminar provides a good chance for businesses from the two countries to establish their long-term partnership. – VOV

Tags: Vietnam garment exports, Vietnam Garment industry, Vietnam textile industry